Adobe has called the new additional Effects menu category "Immersive Video." They've made it easier to apply transitions and to add text or logos that look natural to the viewer. I'm a regular screen viewing type of person, and I can't imagine buying some head gear so I can walk around in a virtual space, but in an industry that moves as fast as the video and photography industry, I think we should know what the latest developments are and how the software we use enable us to edit great videos. Clients are going to start asking for 360-degree videos, and you will either be able to do it or not. This video shows what you'll be able to do in Premiere Pro when editing "Immersive Videos."
You can add text or logos and fit it to be inside the video, so as the viewer walks around it moves around like a physical object. Brands will love this tangibility and the fact that it can become part of the experience in such a new and fun way.
Transitions in 360-degree video are jarring, and you need to gently teleport someone to the next shot for them to completely immerse themselves and forget that they're actually watching a video. Adobe has done some great developments here. The transitions they've added to this menu show a basic, yet very effective transition that's pleasing and easy for the viewer to adjust to.
I think 360 video is something that many companies are seeing as the next big thing. Imagine you can send someone to a gallery of your images? You can actually do that now. However, for a curious mind like mine, I rather like showing and immersing myself in the real world. According to me, we've only seen the surface of what that is.