I used to work with 360 movies.
My first point is that they are not 360, (or mine weren't anyway)as they are taken using a one shot lens, (i used behere's www.behere.com) however you are able to get a wide enough angle to show what is going on in a scene.
Basically the lens sits on top of yous camcorder (imagine a mushroom), this records your 360 movie, which when unravelled using the software allows you to have a movie scene which you can pan around in.
There are applications where this type of technology has its uses, ie, nature study, science, security etc. HOWEVER the web is not ready for this type of technology yet as it is extremely bandwidth heavy.
I have moved away from this area at present. I am watching its development with interest, and can see its use being implemented into the gaming industry, or movies.
Welcome to my world