Movie theater sales are down. AMC stock value has even dropped by 50% this year due to slipping movie ticket sales.
AMC are therefore looking for other potential revenue sources. Earlier this year in June they opened an IMAX VR center at one of its multiplexes in New York City.
The IMAX VR center allow people to participate in various VR games and experiences, Dreamscape Immersive lets up to six people walk around a VR world as an avatar, in a wireless experience, untethered to a computer.
AMC is further committing to Dreamscape Immersive by leading a $10 million series B financing round. AMC will invest another $10 million to a VR content fund, and the chain will finance the rollout of six VR centers in North America and the U.K. over the next 18 months.
Will a VR theater invigorate sagging sales? Only time will tell. So far, VR adoption is not as expected. However, with new headsets allowing more untethered freedom, we may see a pick up...