Immotion Group PLC – Business Update

Immotion Group PLC – Business Update

Immotion Group plc, the UK-based immersive virtual reality ‘Out of Home’ entertainment business, is pleased to announce that it has secured a range of ImmotionVR Experience Centre sites and entered into new revenue share partnerships. This is expected to increase the number of installed VR headsets, (“seats”) from 105 today to 191, an increase of 82%.

Highlights:

  • Two new major Concession Partnerships secured with The Rank Group plc in the UK and Al Hokair Group. The latter is the Group’s first major Concession relationship in the Middle East
  • Five additional ImmotionVR Experience Centres to be opened across the UK, which will bring the total number of Experience Centres to 12
  • US roll out initiated with first ImmotionVR Experience Centre test site opened in LA
  • Strong trading reported in all UK ImmotionVR Experience Centres, including its operational entertainment concessions, particularly given the recent half-term school holidays
    –  The ‘Edutainment’ Concession in W5 Belfast saw particularly strong performance
  • Further proprietary VR content released, anticipated to maintain the strong footfall experienced across current operations
    –  50% of revenue at the ImmotionVR Experience Centre in Bristol is from pre-booked customers, many of whom are returning customers
  • Further significant partnership and other opportunities are at advanced stages of negotiation  

Martin Higginson, CEO of Immotion Group said:

“Our VR revenues have grown rapidly since listing following the consistent roll out of our owned and operated ImmotionVR Experience Centres and our entry into numerous Concession Partnerships. We are very pleased with the reception our experiences are receiving from consumers and while VR still has a long way to go, it is clearly here to stay given the five-star Trip Advisor ratings across the majority of our sites, alongside increasing numbers of returning customers. We have a first mover advantage and each week we learn, helping us refine our offering for the future. 

“Our relationships with shopping mall owners continue to get stronger, especially with Intu, who are now our largest retail partner. The new concession initiatives with The Rank Group, and Al Hokair are both major milestones for the company and I am confident that following successful trials, we will have a clear runway for future site roll out.

“We continue to see strong interest from major leisure operators wanting to partner with Immotion Group to exploit the growing appetite for VR. As the only player offering quality proprietary content, motion platform and marketing solutions in multiple jurisdictions, we are quickly becoming the VR partner of choice.  

“The new experiences produced by our award-winning team in Manchester take motion platform-based VR to a new level. We’re confident the new Christmas VR experience, ‘Elf Power Inc.’ will be a big hit with our audiences this Christmas.”

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