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viewImmotion Group

Immotion targets 'out of home' market for VR experiences

Snapshot

  • Makes immersive VR pods and the associated content
  • Revenue share agreements with the likes of Rank Group and Merlin
  • Mandalay Bay attraction reopens in August
immotion vr racing game

Quick facts: Immotion Group

Price: 2.9 GBX

AIM:IMMO
Market: AIM
Market Cap: £11.01 m
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"We are thrilled to see sites re-opening and to see our booking system spring back to life.

Martin Higginson, chief executive

What it does

Immotion Group PLC (LON:IMMO) makes immersive virtual reality ‘pods’ and the content that goes with it.

Customers can put on one of the Immotion headsets, sit in a pod or a racing car, for example, and take in experiences which range from rollercoaster rides to supercar racing right through to fighting alien invaders in space.

The company also has an ‘edutainment’ – education and entertainment combined – division. York Museum, for example, used Immotion for its Jurassic exhibition and Sir David Attenborough opened the event feeding a dinosaur in virtual reality.

It has signed revenue-share agreements with a host of household names, such as Grosvenor Casino operator Rank, Thorpe Park parent Merlin Entertainment, The O2 Arena and Gravity trampoline parks.

Immotion puts its products in their sites and splits the revenue they generate, which can be upwards of £400 per headset per week.

It also sells its products outright to private buyers, operates in its arcades and licenses out its content and experiences to other companies.

How it’s doing

Having been severely affected by coronavirus lockdowns, in July Immotion said it was seeing “encouraging levels of revenue being generated” from reopened partner sites.

The out-of-home virtual reality (VR) entertainment specialist said a number of its sites were showing “very high levels of utilisation” following their reopening, with two new installations completed post lockdown, at the Oklahoma Aquarium and Mystic Aquarium, operating at almost full capacity.

Immotion also said it has seen “brisk trade” at its own ImmotionVR centres in the UK, with booking and revenues “very encouraging”.

At its largest installation to date, the Ocean Explorer Immersive Theatre at Shark Reef Aquarium, Mandalay Bay Resort & Casino in Las Vegas, visitors were allowed back on August 1.

Immotion said the fee for the VR experience will be now set at US$9 per guest, which is included in the standard aquarium ticket package.

That represents an 80% increase on the US$5 price originally negotiated, Immotion said.

Historically, Shark Reef Aquarium has enjoyed more than 500,000 visitors a year who purchase the standard aquarium ticket package.

As a result of the coronavirus pandemic, a timed-entry ticketing system has been introduced at Shark Reef to facilitate physical distancing but the aquarium is still pulling in around 1,000 visitors a day.

On the new prices for Ocean Explorer, it can generate a net US$100,000 for month to Immotion, the company said.

What the boss says: Martin Higginson 

"We are delighted that consumers appear to have appetite for our experiences with a number of sites showing very high levels of utilisation.

"The imminent opening of our flagship installation at Mandalay Bay along with numerous other sites gives us a great deal of confidence. We continue to tread with caution, but we are quietly pleased by the uptake."

Latest video 

Inflexion points

  • Ocean Explorer Immersive Theatre at Shark Reef Aquarium reopens in August 
  • Immotion expects a net US$100,000 per month from the attraction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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