Imax CEO Sees LA VR Facility as Way to 'Kick-Start’ VR Industry
Having started to “model out” what the virtual-reality business could mean to Imax, “there is a significant opportunity in eventizing VR in a similar way to how Imax is known to eventize movies," said CEO Richard Gelfond on an earnings…
Sign up for a free preview to unlock the rest of this article
Communications Daily is required reading for senior executives at top telecom corporations, law firms, lobbying organizations, associations and government agencies (including the FCC). Join them today!
call. The company opened its “flagship” Imax VR Centre in Los Angeles Jan. 6, and “allowing consumers to experience the very best of VR without having to invest thousands of dollars on in-home VR technology is a great way to kick-start the industry,” Gelfond said after earnings were reported Thursday. The LA building has VR headsets from Acer, Google and HTC (see 1608310001) and attracted more than 7,000 paying customers, the CEO said. “Sales and occupancy figures are trending ahead of our expectations.” Imax plans to open more VR centers throughout the world in 2017, for a total of six “pilot locations” to be running by midyear, he said. The buildings cost $250,000 to $400,000 to start and for customers about $1 per minute, with most VR experiences running 10-15 minutes, Gelfond said.