I just bumped into an interesting article today written by Ian Sherr for CNET talking about his experiences with VR Arcades. VR Arcades are very similar to what iMyth is trying to create. The big difference is that the VR Arcade are positioning for smaller term, fast experiences where as iMyth is striving for longer episodic experiences. VR Arcades such as the IMAX VR Arcade have already made a presence in Los Angeles and are opening another facility in New York in the near future. Companies such as Dreamscape Interactive will be joining in the competition in the very near future.
The author goes on to describe his experience with Nomadic VR. I documented Nomadic a couple of months ago. Nomadic is positioning itself to create Turn-key systems based on theatrical props and sets borrowed from the movie industry. They are looking for industry partners but only if your are big enough to register a blip on their screen :). Sherr believes that location based experiences such as IMAX, Dreamscape and Nomadic will be the big winners with the advent of the VR Arcade. SO far VR has failed to capture the dollars of the mass public. Could VR Arcades be the answer? I believe so!
There are some cynics to be sure. Sean Kelley, an associate at investment and advisory company The Rain Group, said while his firm has made bets on entertainment and live events, it’s not yet convinced VR arcades are going to be a big draw. “The biggest issue with these VR arcades is not demand or content or whether the experience is cool, it’s throughput,” he said. There are already signs some arcade chains are failing, and part of that is because they just don’t make enough money, he added. “You have to put enough people through.” Throughput is very much a problem. I believe the answer to this is creating a higher end product with a far greater production value than be achieved in the home. In my opinion, “High-End” VR is better than no VR and people will be will to pay for experiences outside of the box.
