Google's daydream is about to become a reality.

According to Bloomberg, the Web giant is gearing up to release its new Daydream virtual reality service "in weeks," and is shelling out some serious cash to make it a success. Citing unnamed people familiar with the matter, Bloomberg says Google is investing "hundreds of thousands of dollars apiece in virtual-reality films and programs" to bolster its lineup of exclusive content for Daydream.

Some of its big-name content partners include Hulu, YouTube stars like the Dolan twins and Justine Ezarik, along with some unnamed video-game producers and sports leagues.

First announced at Google's I/O developer conference in May, Daydream is a new protocol for VR-ready Android phones and tablets. The idea is that you'll be able to snap your phone into a visor or headset, and take advantage of Google's collection of VR apps, videos, and games. The service aims to usher in a more stable VR experience and bring the technology into the mainstream.

In May, Google called on developers to create apps for its Daydream platform and promised Daydream-ready handsets by year's end. Shortly thereafter, ZTE introduced the Axon 7, the first Daydream-ready phone.

"We are working with a number of smartphone manufacturers to create a specification for Daydream-ready phones," the company said in a blog post at the time. "These smartphones enable VR experiences with high-performance sensors for smooth, accurate head tracking, fast response displays to minimize blur, and powerful mobile processors."