AMC Entertainment, Inc. and location-based virtual reality (VR) specialist Dreamscape Immersive have announced a new strategic partnership that’ll see several of AMC’s cinemas get VR centres over the next 18 months.
The deal between the two companies will form a wide ranging collaboration with AMC being the lead investor in a $20 million USD Series B financing round. It’ll commit $10 million in equity investment into Dreamscape Immersive whilst also investing $10 million into a content fund.
AMC will finance up to six Dreamscape Immersive VR centers within it’s cinemas across North America and the UK during the course of the next 18 months. These locations are in addition to Dreamscape Immersive’s flagship location at Westfield Century City Mall in Los Angeles, slated to open to the public in Q1 2018.
“Dreamscape Immersive ushers in an exciting new world in virtual reality and reminds us through its trailblazing all-enveloping technology that we really are living in the 21st century. A dazzling future is now at hand,” said Adam Aron, CEO and President of AMC Entertainmentin a statement. “What makes Dreamscape Immersive and AMC Theatres a perfect fit together is the vast and impressive experience of Dreamscape’s founders in cinematic storytelling that is sure to resonate with AMC’s moviegoers.”
Dreamscape Immersive’s locations are designed to accommodate between two and six people into one experience, offering 16 feet by 16 feet of playable space, reports The Verge.
Walter Parkes, Dreamscape Immersive co-chairman notes: “While Dreamscape’s immersive technologies represent the cutting edge of the digital world, its heart and soul rests firmly in the shared language of film – so it’s tremendously exciting that our first major commercial partnership is with the world’s largest cinema exhibitor.” Dreamscape Immersive CEO Bruce Vaughn adds, “We look forward to working with AMC to offer audiences the opportunity to actually step into and experience imaginative worlds previously only available through watching movies.”
VRFocus will continue its coverage of Dreamscape Immersive and AMC’s VR roll out, reporting back with the latest updates.