The 21st century has entered a period of vigorous development of new media art. Virtual Reality （VR） is one of the most focused technologies in the field of film and television creation. Industry data shows that the global virtual reality market in 2019 exceeded 20 billion dollars. In the content market segmentation，VR games，VR movies，and VR live broadcast applications accounted for more than 60% of the market share，and VR movies are accelerating the pace of development. In 2019，China’s virtual reality industry market has grown steadily，reaching 20 billionyuan，of which the VR content market reached 4.98 billion yuan，and VR films and TV accounted for more than 30%. With the further integration of 5G networks and cloud computing，it will provide a powerful boost to the development of virtual reality movies. At present，the development of global virtual reality film products is in the initial stage of rapid growth. In recent years，the world’s major film festivals have added virtual reality units，and “phenomenal” VR films are expected to be launched. Online virtual reality platforms and offline virtual reality experience stores continue to update new products. This article will provide a summary report on works in China and outside China in 2019，conduct a comparative analysis of outstanding works at home and abroad，in-depth discussion of the current development of virtual reality film products，and predictive analysis of future development trends of virtual reality film products.