Virtual Reality is the next platform. Live Streaming is happening now.
When you combine the two you will find unimaginable magic will happen. The film makers and storytellers of the future will learn all the tricks of the trade quickly, and invent new ones.
The 4th wall is a traditional 'trick', and even though it is more for narratives like in a movie, it is a great analogy for us to consider how new tech creates new opportunities to tell better stories.