Sky will bring Virtual Reality to cycle racing, following Team Sky as they set their sights on retaining the  Maillot Jaune at this year’s Tour de France, it has been revealed.

As part of plans to make in-roads in the VR market Sky is setting up a dedicated studio to create “immersive” experiences in Formula 1, cycling and boxing, as well as entertainment.

The TV giant invested in a Silicon Valley VR start up, Jaunt, last year with an eye on a market predicted to be worth $70bn by 2020. In the coming months, it says, Sky VR Studio will create VR content “across all genres”.

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Gary Davey, Managing Director, Content at Sky, commented: “The Sky VR Studio allows us to add a new dimension to storytelling, taking viewers to extraordinary places and offering a unique perspective on a whole host of events.

“The development of VR technology is moving at an incredible pace and excitement is building about its potential. Our expertise across a wide range of video content, from original drama to live sport, gives us a unique ability to bring VR to life for customers. This is just the start and we’re looking forward to creating more amazing VR content and exploring the possibilities with our tech and content partners.”

The first two pieces of “fully immersive content” produced by Sky VR Studio, will be released on Friday of Formula 1 testing in Barcelona, including pit lane, team garages and track footage. Sky News last year produced 360 videos with footage of the refugee crises from Lesbos, and Calais.

Sky says the full VR experience will also be available on the Oculus platform, and viewable on the Samsung Gear VR and Oculus Rift headsets. Later in the year, Sky will look to distribute content through a dedicated Sky VR app.