What Will It Take For Location-Based VR To Succeed?

With home-based systems getting better and cheaper, can VR arcades and attractions bring in repeat visitors and turn a profit? We talked to some key players about what it takes to be successful in that space.Many who rushed to jump on the VR bandwagon and invested heavily in opening VR arcades with the debut of consumer headsets in 2016 have since gone out of business. Some industry insiders, however, remain enthusiastic about Location-Based VR Entertainment for VR and see the market as entering a more sustainable phase.We talked to some of the survivors about how they made it this far and how they are honing in on a profitable model for out-of-home VR entertainment. Here’s an overview of where the market is going.SpringboardVR has VR arcade operators in 36 countries with dozens more joining every month, according to co-founder and CMO Will Stackable. A recent survey conducted by the company across its network of arcades suggested a majority could be profitable, with many operators having opened multiple locations or planning to expand in the coming months.

Spotlight

Falcon Media House

Falcon Media House is a global digital media group, powering the new paradigm in media entertainment for intelligent streaming of live and on-demand video. Its goal is to create an ecosystem where great technology meets great entertainment and delivering the right audience. The Group is capitalising on the explosive demand for digital video, streamed “live” and “on-demand”, known as the Over-The-Top (‘OTT’) video streaming market. Falcon Media House focuses on Technology, particularly Quiptel’s innovative patented software enabling “intelligent streaming” on any network to any device, bridging the “last mile” while dramatically improving Quality of Service (‘QoS’) and Quality of Experience (‘QoE’), and Media that supports brands, creators and rights-holders in bringing unique and exclusive content to a global audience.

OTHER ARTICLES
Technologies, Virtualization

The Quest Is The Second Generation Of VR. You Charge It Up, Stick It On And It’s Great

Article | July 27, 2022

Ever since the adoption of VR gaming to the gaming market, it sure has seen upheavals—disruption by significant players in the industry like PSVR, Rift, and the Vive. PSVR has been the best-selling VR headset ever since its launch, selling over 5 million units on December 31st, 2020. While these numbers portray PSVR as successful, its hardware is lacking behind, and still, no sign of upgrades has been hinted by Sony. Speaking of which, a lot of gamers have long been waiting for a hardware upgrade or a hardware sequel—PSVR 2—from Sony, but very little or nothing has been said on this matter.

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Virtualization

The productisation of music rights

Article | June 21, 2021

News that New York-based Pershing Square Tontine Holdings is planning to acquire 10% of UMGis the latest in a wave of financial transactions in the music rights space. Alongside this, Believe’s impending IPO has the potential to be one of the biggest things to happen to the independent music sector in some time, and comes as part of a wave of IPOs (e.g.WMG,UMG), SPACs (e.g.Anghami,Reservoir) and no end of catalogue funds and acquisition vehicles. This trend, with good cause, has been referred to as the ‘financialisation of music’ but that only captures part of what is at play here. This is more than simply an influx of capital and debt; financial institutions are now becoming part of the plumbing of the music business, and in turn they are changing the definition of what constitutes success. This shift in objectives and desired outcomes has the potential to rebalance how the music industry operates.

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Virtualization, Media and Broadcasting

Boost Your B2B SaaS Business with Live Streaming

Article | July 13, 2022

Live streaming is an effective tool to attract the attention of your potential clients in the B2B SaaS domain. You can influence users and prospects without stretching your marketing budget. In a survey by Wyzowl, it was reported that 86% of businesses were relying on videos as a marketing tool. All you need to make the most of this tool is a good device, a strong internet connection, and the right live streaming application. Live Streaming: It’s All about the Connection Every business focuses on creating connections with their prospects through every form of communication, like discord, social media and websites. As a medium, live streaming offers an exciting opportunity to make this connection interactive. Let us look at what it can help you do: Build Your Brand Real-time comments, likes, and shares take brand interaction to another level. You can reiterate your brand’s ability to responsibly respond to your customers and create a new benchmark for how you deliver customer experience. Since live streams are unscripted, you can also showcase your brand’s ingenuity in handling customer issues without any hang-ups. Connect With Customers A live stream will help you connect with your customers in a novel way. Not only will your customers participate in your brand journey, but they will also feel excited to learn about your offerings. Tapping into their curious minds and influencing their buying decisions will be easier once they become visually engaged in your stream. Get Instant Feedback Product enhancements are a result of priceless customer feedback. When you present your products to customers over a live stream, they understand the product features and benefits in real-time and offer their feedback instantly, so you know what you need to work on. This feedback can also be the fodder for your content and marketing strategies. Keep Customers Informed Customers prefer watching interactive videos more than reading detailed emails on products. Keep your customers informed and updated about your latest product information through regular live streams. You can highlight important product updates that can help customers elevate their businesses and address any concerns that might hamper your sales through a stream. Boost Your B2B SaaS Business with Live Streaming Now that we have seen what exactly live streaming can do for businesses, let us narrow it down to the B2B SaaS domain. Here is how you can improve your SaaS sales with live streaming: Speed up problem resolution Allow customers to request live streams on what they need. Through live streams, you can troubleshoot for them without making them wait in queues or for your responses over email. If you address one customer’s problem over the stream, it can help you reduce and eliminate similar problems other customers are facing. Conduct detailed product tours If you live stream your product tour, you can show your customers how it works in detail. Product tours will help you create a personal connection with businesses because you can highlight how your product will help them address their pain points. You can also answer questions in detail and communicate with them better. Save the videos as tutorials Your live streams can become tutorials for your customers. Your ‘How-to’ live streams can help them understand your product and solve their problems without any brand intervention or waiting period. Reel in the customers Give your customers a glimpse of the trends in the SaaS industry. Update them on industry events, expos, and conferences they can attend. Let them see what goes behind making the product and get their opinion on new product ideas. It’s a Wrap B2B SaaS leaders must develop appealing live streaming strategies to solve customer problems, identify their needs, and connect with them on new platforms to increase sales and product uptake.

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Six Things Blockchain Can Do For Gaming

Article | April 14, 2020

Since their foundation in the 1970s and 80s, video games have moved from fringe interest to a major media staple. The industry has enjoyed huge revenues from dedicated fans, especially over the past few months, and the growth shows no sign of slowing down. Gaming is also an industry renowned for its commitment to innovation, adopting technological developments and spawning a fair few of its own. Chief amongst technological developments over the last decade has been blockchain technology, the new system of trading and ownership built on transparency and decentralization, the standard-bearer of which is the digital currency.

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Spotlight

Falcon Media House

Falcon Media House is a global digital media group, powering the new paradigm in media entertainment for intelligent streaming of live and on-demand video. Its goal is to create an ecosystem where great technology meets great entertainment and delivering the right audience. The Group is capitalising on the explosive demand for digital video, streamed “live” and “on-demand”, known as the Over-The-Top (‘OTT’) video streaming market. Falcon Media House focuses on Technology, particularly Quiptel’s innovative patented software enabling “intelligent streaming” on any network to any device, bridging the “last mile” while dramatically improving Quality of Service (‘QoS’) and Quality of Experience (‘QoE’), and Media that supports brands, creators and rights-holders in bringing unique and exclusive content to a global audience.

Related News

Location-Based Entertainment Startup Sandbox VR Secures $68 Million Investment

vrfocus | January 29, 2019

Virtual reality (VR) location-based entertainment (LBE) can be a tricky business. Companies like The VOID and Zero Latency have seen success further expanding their global presence, while others such as IMAX VR have had to shutter operations. Sandbox VR, a Hong Kong-based provider also looks to be on the up and up, recently announcing a successful investment round securing $68 million USD.The series A funding round was led by Andreessen Horowitz reports Business Insider, with Mike Maples from Floodgate, Stanford University, TriplePoint Capital, CRCM, and Alibaba also participating.Founded in 2016 by CEO Steve Zhao, Sandbox VR developed its own hardware and software solutions to create an out-of-home VR experience that can be fitted in shopping centres and other locations. “When we first opened in Hong Kong in 2017, when we opened the location, for the next 60 days we were sold out from morning until night,” Zhao said.Since then Sandbox VR has managed to expand its presence to more locations in Asia as well as North America including Bangkok, Singapore, Los Angeles and San Francisco. With the new investment, the company plans further expansion, not only adding new locations but also developing new in-house experiences you can’t get anywhere else.

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Sandbox VR Raises $68 Million for Location-Based VR Experiences

variety | January 28, 2019

Hong Kong-based virtual reality (VR) startup Sandbox VR has raised a $68 million Series A round of funding from Andreesen Horowitz, Floodgate Ventures, Stanford University, Triplepoint Capital, CRCM and Alibaba. The company wants to use the new cash infusion to launch new VR centers in New York, Tokyo and elsewhere.Sandbox currently operates VR centers in 6 cities, including San Mateo, Calif., Vancouver and Hong Kong. In those locations, it offers players the opportunity to freely explore a stage, and play together to fight zombies, aliens and undead pirates in a series of location-based VR experiences.“We believe this new medium is not about better movies or a more immersive game,” the company wrote in a blog post Monday. “It’s something else entirely, and we as an industry will need to learn from the best of both mediums — movies and gaming.”“Once the ecosystem around Sandbox begins to achieve critical mass, we expect that the technology will unlock a golden era of storytelling and interactive, immersive entertainment,” said the venture capital firm’s general partner Andrew Chen in a blog post Monday. “Some of this will look like gaming, some will look like film, and yet others will resemble music, documentaries — as well as other new, VR-native genres we’ve yet to invent, in much the same way people eventually moved beyond trying to redo plays in early movies. ”

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VR Bumper Cars Attraction To Open In Germany This Spring

vrfocus | January 18, 2019

Location-based entertainment (LBE) attractions are starting to really push the level of variety they can offer customers, from comedy puzzle titles like The VOID’s Ralph Breaks VR to realistic simulators such as Paraflight VR. Now it’s time for a classic fairground attraction to get the virtual reality (VR) treatment, with a VR bumper cars attraction opening in Germany soon.The work of VR Coaster and Holodeck VR, the VR bumper cars attraction is called Steampunk VR Scooter and will be based at Erlebnispark Schloss Thurn in Heroldsbach near Nuremberg.The ride will take visitors into a Wild West-style Arena where they will compete against each other with retro-futuristic steam engines. Guests will not only compete with each other but also against giant robotic enemies, so to help them there are additional extras and upgrades that players can pick up.“With this world’s first VR Bumper Cars Attraction, we will once again open a new chapter in Location Based Virtual Reality.” says Prof. Thomas Wagner, Managing Partner of VR Coaster GmbH & Co. KG in a statement. “With the combined Know-How of the teams at VR Coaster and Holodeck VR, we were able to create an unprecedented, interactive VR experience, which holds some very exciting surprises!”

Read More

Location-Based Entertainment Startup Sandbox VR Secures $68 Million Investment

vrfocus | January 29, 2019

Virtual reality (VR) location-based entertainment (LBE) can be a tricky business. Companies like The VOID and Zero Latency have seen success further expanding their global presence, while others such as IMAX VR have had to shutter operations. Sandbox VR, a Hong Kong-based provider also looks to be on the up and up, recently announcing a successful investment round securing $68 million USD.The series A funding round was led by Andreessen Horowitz reports Business Insider, with Mike Maples from Floodgate, Stanford University, TriplePoint Capital, CRCM, and Alibaba also participating.Founded in 2016 by CEO Steve Zhao, Sandbox VR developed its own hardware and software solutions to create an out-of-home VR experience that can be fitted in shopping centres and other locations. “When we first opened in Hong Kong in 2017, when we opened the location, for the next 60 days we were sold out from morning until night,” Zhao said.Since then Sandbox VR has managed to expand its presence to more locations in Asia as well as North America including Bangkok, Singapore, Los Angeles and San Francisco. With the new investment, the company plans further expansion, not only adding new locations but also developing new in-house experiences you can’t get anywhere else.

Read More

Sandbox VR Raises $68 Million for Location-Based VR Experiences

variety | January 28, 2019

Hong Kong-based virtual reality (VR) startup Sandbox VR has raised a $68 million Series A round of funding from Andreesen Horowitz, Floodgate Ventures, Stanford University, Triplepoint Capital, CRCM and Alibaba. The company wants to use the new cash infusion to launch new VR centers in New York, Tokyo and elsewhere.Sandbox currently operates VR centers in 6 cities, including San Mateo, Calif., Vancouver and Hong Kong. In those locations, it offers players the opportunity to freely explore a stage, and play together to fight zombies, aliens and undead pirates in a series of location-based VR experiences.“We believe this new medium is not about better movies or a more immersive game,” the company wrote in a blog post Monday. “It’s something else entirely, and we as an industry will need to learn from the best of both mediums — movies and gaming.”“Once the ecosystem around Sandbox begins to achieve critical mass, we expect that the technology will unlock a golden era of storytelling and interactive, immersive entertainment,” said the venture capital firm’s general partner Andrew Chen in a blog post Monday. “Some of this will look like gaming, some will look like film, and yet others will resemble music, documentaries — as well as other new, VR-native genres we’ve yet to invent, in much the same way people eventually moved beyond trying to redo plays in early movies. ”

Read More

VR Bumper Cars Attraction To Open In Germany This Spring

vrfocus | January 18, 2019

Location-based entertainment (LBE) attractions are starting to really push the level of variety they can offer customers, from comedy puzzle titles like The VOID’s Ralph Breaks VR to realistic simulators such as Paraflight VR. Now it’s time for a classic fairground attraction to get the virtual reality (VR) treatment, with a VR bumper cars attraction opening in Germany soon.The work of VR Coaster and Holodeck VR, the VR bumper cars attraction is called Steampunk VR Scooter and will be based at Erlebnispark Schloss Thurn in Heroldsbach near Nuremberg.The ride will take visitors into a Wild West-style Arena where they will compete against each other with retro-futuristic steam engines. Guests will not only compete with each other but also against giant robotic enemies, so to help them there are additional extras and upgrades that players can pick up.“With this world’s first VR Bumper Cars Attraction, we will once again open a new chapter in Location Based Virtual Reality.” says Prof. Thomas Wagner, Managing Partner of VR Coaster GmbH & Co. KG in a statement. “With the combined Know-How of the teams at VR Coaster and Holodeck VR, we were able to create an unprecedented, interactive VR experience, which holds some very exciting surprises!”

Read More

Events