IMAX has raised $50 million dollars to invest in exclusive VR content for IMAX VR centres and other platforms. The company has partnered with Hollywood and other studios to create the content.
IMAX VR centres worldwide
Other companies have already experimented with adding VR rooms to traditional cinema complexes. IMAX also sees potential in the new technology. So much that it is ready to invest millions of dollars.
The company has set up a virtual reality fund together with other investors. One of these investors is Acer who is involved in the “Starbreeze” VR headset that IMAX is using.
The company has already installed "IMAX VR centres" in Los Angeles, USA and Manchester, England. It is planning to set up additional test centres in Europe, China, Japan, USA, and the Middle East. If these locations prove to be successful, the company will roll out the initiative globally.
Exclusive VR content
The $50 million fund will be dedicated towards creating “at least” 25 VR experiences that can be experienced at participating cinema complexes over the next three years. The company has partnered with Hollywood studios and game studios to create immersive content.
IMAX has also partnered with Google to create a special VR camera.
- "We will be leveraging our collective relationships with world-class filmmakers and content creators to fund VR experiences that excite and attract a larger user base to capitalize on opportunities across all VR platforms including IMAX VR," said IMAX CEO Richard L. Gelfond.
The company says that its VR content will be available on other platforms besides the IMAX VR centres.
However, do not expect full-length VR movies. IMAX is aiming for rather short 10-15 minute clips and is hoping to charge around $7-10 dollars. The company sees a future where VR will complement the traditional cinema experience, not replace it.