AMC Theaters Backs Virtual Reality With $20 Million Investment
- Funding includes $10 million for startup Dreamscape Immersive
- Chain will finance rollout of six VR centers in next 18 months
An AMC theater in Columbus, Ohio, on Aug. 23, 2016.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
AMC Entertainment Holdings Inc., the biggest cinema chain in the U.S., is investing at least $20 million in virtual-reality arcades and productions as growth stagnates for traditional moviegoing.
The exhibitor, which has lost half its market value this year after a poor summer box office, will be the lead investor in a $20 million series B financing round, committing $10 million to virtual reality entertainment company Dreamscape Immersive. Another $10 million will be invested in a content fund, and the chain will finance the rollout of six VR centers in North America and the U.K. over the next 18 months.