Location-based VR Destination Sandbox VR has announced that it has surpassed its lifetime revenue of $200 million as 29 new locations are planned this year and continues to expand rapidly worldwide.
Founded in 2016, Sandbox VR is one of the few home-based VR attractions to survive the Covid-19 pandemic, re-emerging from Chapter 11 bankruptcy in late 2020 after being forced to lay off staff for most of the year and effectively shut down doors.
Currently, according to Sandbox VR, it has reached a revenue milestone of $200 million, bringing in $75 million in sales in 2024 from over 1.4 million players in a growing global location.
The overall revenue-good slices are thanks to marquee content developed in-house like these recent Squid Game The VR attraction, which has generated revenue of $30 million since its launch in 2023, has contributed significantly to recent growth. Its fully pervasive multiplayer VR experiences typically host up to six players at a time, ranging from $50 to $60 per person.
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This recent success has led the company to open 29 new locations this year, increasing its overall footprint by about 50%, and this month its 60th location opened in Philadelphia, Pennsylvania.
According to the franchise’s prospectus, target markets for 2025 will include the US, multiple European countries, Saudi Arabia, Bahrain, Qatar, Kuwait, Egypt, Canada, Malaysia, India, Australia, Indian, Thailand, Vietnam, South Africa, South Africa, Mexico, Cheeley and Turkey.
Since the beginning of 2024, Sandbox VR has sold 83 franchise units, currently developing a total of 150 units, with 34 operators and a total of 150. The company said this represents a six-fold increase in transaction signatures over the past 12 months.
“To reach $200 million sales for Sandbox VR is a key achievement for Sandbox VR and we examine our mission to provide an immersive social VR experience that brings people together,” said Steve Zhao, CEO and Founder of Sandbox VR. “As we continue to expand globally through our franchise model, we see unprecedented demand from both operators and consumers who recognize the unique value of our offering.”
In particular, the company stated that an average of 117,000 players visited Sandbox VR each month in 2024, and the company predicts that it will increase its average to 150,000 in 2025.
