April 07, 2018
4:30pm PT

Carolyn Giardina Location-based entertainment will be a $1 billion market by year’s end and make up about seven percent of the virtual reality industry, while by 2023, location-based entertainment will grow to a $12 billion market and make up about 11 percent of the VR industry, according to new projections from Greenlight Insights. Presenting as the National Association of Broadcasters (NAB) Show, which kicked off Saturday in Las Vegas, Greenlight Insights’ virtual and augmented reality analyst Alexis Macklin offered an optimistic look at the direction of location-based entertainment, which includes the use of VR — combined with elements such as 4D effects — to place experiences in cinemas, theme parks, malls, museuem and other such public spaces.

Underscoring this potential, startup Two Bit Circus is developing “micro amusement parks” with multi-person virtual and mixed reality experiences, the first of which is expected to open this summer in Los Angeles. Nancy Bennett, chief creative officer at Two Bit Circus, views these experiences, when placed in cinemas, not as a threat but an added draw.

Brooks Brown, global director and vp at Starbreeze Studios (the game developer behind the StarVR headsets) is optimistic about the potential, but warned that there are some shortcomings and great creative must lead the movement. “Technology is leading us,” he warned.

“But consumers don’t care. They care about how good an experience it is.

If we let technology lead this, we will fail.” He added that too many consumers see VR as “fun” but a “gimmick.” Read more from hollywoodreporter.com…

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