Salt Lake City, UT, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Location-Based VR (LBVR) has been a surprising development within the FEC & Amusement Park industry. Many expected consumers to focus on in-home experiences, but many are going outside of the home to experience the immersive entertainment value that LBVR has to offer.
LBVR has more than doubled in the past year and is expected to grow exponentially over the next 5 to 6 years. We’ve heard the numbers, but let’s review them once more:
- By 2025, VR is expected to grow 765% to over 1.5B users (Statista)
- Forbes estimates that Location-Based VR to more than double in 2018 to $1.2B
- Location-Based VR is expected to grow to over $8 Billion by the end of 2022, +566% growth in 4 years
Although adoption of commercial VR systems has far exceeded any growth estimate or projection, pain points still exist within this segment of the commercial entertainment and FEC space. Every point of opposition is around one thing – profitability. VR systems now cost $100,000+ just for the initial install for a 4-player setup. Although these systems can be very profitable, the initial cost (plus annual service fees ranging from $5k-$20k) cut into the business owner's margin. In addition, this setup can leave the FEC owner reliant on the LBVR vendor to produce new content to bring their patrons (the end user) coming back for more.
A business owner, Chief Experience Officer, or buyer for an FEC or Amusement Park is then faced with a tradeoff: The consumer – their customer – is wanting a VR attraction to experience with the owner’s business, but it cuts into cash flow in the short term. The benefit of VR is an additional revenue stream, a featured attraction, and an experience that has a high return rate – but the investment is steep.
Enter in Private Label VR and its exclusive Rev Share pricing model. The company prides itself on “Your Partner in Virtual Reality” and now even further lives up to that promise. Their pricing already leads the industry – a 4-player custom Commercial VR setup will only cost $60k – almost half the competition. But now, with a reduced upfront cost and a rev share split – this allows the FEC owner to keep cash flow and truly partner with someone in their VR investment. With over 200+ games in their library and more coming weekly, they have the most content, the leading software platform, and a custom-built loyalty and rewards program to keep your patrons coming back.
It’s important with any investment to shop around, but make sure that Private Label VR is on your list to check out.
Private Label VR is the leader in location-based virtual reality systems. With over 60 partners across US and Canada, we offer the most games (over 200+), freshest content, industry leading software, and most cost-effective VR solutions in the industry. Our true value is in our expertise and partnership. We deliver the best result within location based virtual reality for your business and for your customers at roughly 60% of the cost of our competition.
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