Like many other users, I haven't really had any major issues with this app until the most recent update. Upon first loading, it runs smoothly however after roughly 3-4 minutes, the video gets unbearably choppy and laggy.
I've tried changing numerous settings and even sat there for almost 5 minutes fighting off nausea to see if it would correct itself but no luck.
One temporary "fix" that I discovered today, is that if I hit the Oculus button on my controller to bring up the menu, the video plays smoothly as it should in the background. For the time being, I've been doing this method and minimizing all the menu windows to continue viewing videos in the app, although the image appears darker as its played in the background and the moment I try going back into the app, the image starts to freeze and lag again.
Force closing the Oculus app and rebooting helps temporarily as well, but after another few minutes the issue comes back.
I have taken a screen recording of this and uploaded to my Google drive as the file is quite large. If you would like I can post it here or email it to you to help diagnose the issue. Just let me know