Virtual reality arcades and other location-based VR entertainment venues could generate more than $800 million in worldwide revenue by 2022, according to the latest Futuresource Consulting VR Tracker Report. Consumers are expected to spend $299 million on location-based VR entertainment in 2018, by 2022 that amount is expected to grow to $809 million. At the moment, much of the growth of location-based VR is being driven by VR arcades. In 2017, some 4000 estimated VR arcades worldwide brought in $79 million, or 40 percent of all location-based VR revenue. Higher-end location-based VR will play an increasing role over the next five years. By 2022, multiplayer VR experiences will make up 41 percent of all the global location-based VR revenue, Futurescore estimates.
For the industry and investors the biggest concerns are ROI and Tech Obsolescence. At the LBE Summit we will talk all about this, about content, operations and technology, which really are the three pillars of the business.
- Content: Is VR a new storytelling medium? Or is it a gaming platform? Or both?
- Business Models: Who is making money in VR and how?
- Technology: Where is it heading, and how do you manage the risk of obsolescence?