Netflix is rolling out VR attractions based on hit shows at its new Philly and Dallas venues, marking another Hollywood player diving deep into LBEXR. Meanwhile, Nintendo quietly signals it's exploring VR and AR tech, and Seattle welcomes Dream Park VR’s ambitious mixed-reality theme park. And this week's One Big Thing tackles "shared reality"—an immersive experience model that is attraction billions in investment.

New Developments

(Downloadable) Theme Parks

Dream Park VR Brings Mixed Reality Magic to Seattle

Seattle just got its first taste of Dream Park VR, an ambitious Mixed Reality virtual theme park combining interactive adventures and multiplayer attractions with real-world environments delivered through Meta Quest headsets. Could this be the attraction model that redefines theme parks for a modern audience?
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JUST RELEASED - NEW PODCAST EPISODE

Every week, a new audio podcast from the VR Arcade and Attraction Summit. Check them out on your fave podcast app. Listen now on Spotify and Apple Podcasts.

FECs and Arcades

Netflix House Unveils VR Attractions in Philly and Dallas

Netflix House is rolling out VR and AR experiences in their upcoming locations, teasing immersive worlds from Stranger Things and Squid Game. What does this mean for the future of IP-based location-based entertainment?
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VRCade Tallahassee Levels Up STEM Innovation

Tallahassee's VRCade is bridging the gap between entertainment and education, turning virtual reality gaming into a powerful STEM learning experience. Could gaming finally crack the code for engaging kids in tech?
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Myrtle Beach Welcomes New VR Arcade "Gaming Bliss"

Gaming Bliss brings free-roam VR experiences, arcade-style multiplayer action, and family-friendly attractions to Myrtle Beach. Can it become a blueprint for profitable family entertainment centers?
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Zero Latency Enters Houston's Competitive Gaming Scene

Zero Latency is betting big on Houston with its latest free-roam VR arena, heating up Texas' booming gaming and esports market. Will Houston become the next VR hotbed?
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Ctrl V Opens Doors in Winston-Salem

Winston-Salem gets its first dedicated VR arcade with Ctrl V, bringing high-quality VR experiences to a city hungry for innovation. Does this mark a trend for mid-size market penetration?
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Museums and Science Centers

Antarctic Exploration Comes Alive in New Zealand VR Exhibit

Captain Scott’s Discovery Hut in Antarctica has been virtually recreated in stunning detail for an immersive exhibit in New Zealand. Can VR redefine how museums tell history’s most gripping stories?
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Prague National Museum Launches VR Time-Travel Adventure

The National Museum in Prague debuts a cutting-edge VR journey, letting visitors step directly into pivotal historical moments. Is VR finally making history cool again?
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VR Brings Ancient Roman Battle to Life in Burnswark, Scotland

A new immersive experience lets visitors witness the fierce battle between Roman legions and local Scottish warriors at Burnswark Hill. Could immersive battle re-enactments become museums' secret weapon?
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Art, Music, and Culture

Camden Market Launches Immersive VR Viking Attraction

London’s iconic Camden Market now hosts an immersive VR experience exploring Viking history, myth, and culture. Is culture-driven VR the next big revenue opportunity?
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What I’m Reading

There’s a continuing narrative that VR is dead, but if you follow closely, you’ll see big companies investing billions into what they believe (and I know) are the next generation of immersive computing devices.

Tech Giants Double-Down on VR: Is Immersive Entertainment at a Tipping Point?

Apple, Meta, Google, and Disney are pouring billions into VR and AR tech, each betting they’ll unlock the next great entertainment wave. Can their collective muscle push immersive experiences mainstream, or are unit economics still murky?
Read On CNN →

Nintendo Quietly Exploring VR & AR—What's Their Next Play?

Nintendo confirms it’s actively researching VR and AR tech, hinting at future innovations that will redefine "new ways to play." Could Nintendo finally shake up immersive gaming the way they did handhelds?
Read On Go Nintendo →

One Big Thing

A Shared Reality

Last week I went to see The Matrix at COSM in Los Angeles. The 1999 cyberpunk classic starring Keanu Reeves as Neo was reimagined for the dome screen by experiential agency Little Cinema.

It was a perfect execution of taking a film designed for a 2D screen and applying just the right amount of 3D elements to make it immersive. The movie was shown in a letterbox window on the dome. For much of the film, the dome screen surrounding the movie window was black. However, in certain scenes, the rest of the dome came to life with 3D-rendered environments that added a contextual sense of presence. 

In one scene, as Neo climbed out the window of his office to escape the Agents, the audience was transported to the top of the building with him. It offered just enough disorientation to give a sense of what he might be feeling, but not enough to be distracting or sickening. Little Cinema nailed it. 

Immersive Experience Explosion

The business of immersive experiences is exploding. It’s growing at 20% YOY and already generates over $100 billion annually in revenue. IMAX is the poster child for immersive cinema. The recent Brad Pitt movie from Apple, F1, just debuted on IMAX, where it generated 20% of its global box office despite representing only 1% of the total movie screens worldwide. IMAX stock is up 60% in the last 12 months vs 11% for the S&P 500.

IMAX has long claimed to be the world’s most immersive movie experience. But COSM, and now The Sphere in Las Vegas, just said “hold my popcorn!”  

Sphere is currently selling tickets for the August 28th premiere of The Wizard of Oz, another reimagined immersive version of a classic movie. Using AI, the movie is being remastered for the giant dome to make it feel like viewers are inside the tornado with Dorothy as her house is whisked to Munchkinland. Tickets start at $114 and go all the way up to $349 for the VIP experience that includes early entry, a $25 concession credit, and a movie poster. 

Premium Experiences Increase Spending

It’s been well documented that Millennials and Gen Z prefer spending on experiences over stuff. But what’s quickly emerging as a trend is that premium experiences are where the money is. How else can you frame a packed theater paying $60 to see The Matrix, a 25-year-old movie? And that doesn’t include the mildly inflated food and drinks delivered to their seats. My bill for the night approached $200 for the two of us with a ticket, parking, and one cocktail each, tax, and tip. 

Joe Pine, author of the book The Experience Economy, says that experiences are time well spent. In our time and attention-starved lives, people are willing to pay a significant premium if the time spent creates a memorable experience. COSM certainly delivered on that (I am writing about it weeks after the event). This is one of the reasons that Sandbox and Zero Latency have been successful, growing to over 50 and 150 locations, respectively. People are increasingly willing to spend $50, $100, even up to $150 or more for high-impact, premium, immersive experiences. 

Are We In A Shared Reality?

COSM calls their immersive experiences “Shared Reality.” That label makes sense when you consider that cinemas are considered a “shared experience” and the immersive nature of COSM, The Sphere, and other technologies aim to eXtend Reality (hence the XR moniker). I hosted a poll on LinkedIn last week asking my audience if they thought these shared reality experiences, which also include large-scale projection, like Immersive Van Hogh. It wasn’t overwhelming, but almost 60% said one or more of these technologies fit the definition of XR. While not every immersive projection felt like it extended reality, having experienced the best of what these technologies offer, I tend to agree that it’s possible.

From an experiential perspective, these shared reality experiences are powerful demonstrations of shifting our perceptions of what is real. While I knew I was not on top of a skyscraper watching Neo as he held on for dear life, my mind certainly had a sense that something was going on beyond sitting in a seat in a dome theater. But from a business perspective, I remain dubious that these installations make sense. The content cost is extraordinary. The Sphere, which cost almost $2 billion to build, reportedly invested $80 million to reformat The Wizard of Oz into an 80-minute immersive experience. And it can only run in one, albeit massive, theater. Cosm, which only cost $100 million to build, hasn’t disclosed what it spent to augment The Matrix. But the costs of these projects are breathtaking. 

A More Cost-Effective Path

I’ve been a proponent of using VR technology to create more immersive storytelling experiences. VR enables you to create immersive worlds that feel real, all for a fraction of the cost of large domes. This makes them accessible to a smaller market. Where there might only ever be a handful of Spheres in the world, and maybe 50 or 100 COSMs, I forecast a market for thousands of VR theaters in cities and towns that are currently deprived of these types of experiences. 

We are already seeing these installations in thousands of museums and hundreds of touring exhibitions around the world. That’s exactly how the earliest days of cinema played out. Once there was enough quality content, permanent theaters started popping up around the world.

As more indie studios partner with the likes of Warner Bros. and Netflix, there will soon be an abundance of high-quality immersive content to support permanent VR theaters. With thousands of existing theaters underperforming due to demographic shifts, a lack of content, and competition from streaming services, progressive cinema chains should be looking to experiment with this new immersive content today. Compared to the cost of IMAX or 4DX motion theaters, VR offers a low-risk investment with a potential massive return. It’s an exciting time to be here. If you’re interested in this space, reach out now. It’s time to build.

Stay immersed,

Bob

P.S.: Every other week, I post my thoughts on the broader tech industry and its impact on not only LBE but also the wider society. I am currently writing a series of posts about how the tech industry has been slowly eroding humanity’s freedom and agency. It’s important stuff. Consider clicking over there, and if you find it worthy, subscribe to my Dropping In blog.