Sandbox VR, a popular destination for location-based virtual reality experiences, has made headlines by surpassing $200 million in lifetime revenue. Looking ahead, the company has ambitious plans, announcing 29 new locations set to launch this year.
Established back in 2016, Sandbox VR is among the handful of out-of-home VR entertainment venues that managed to weather the COVID-19 storm. After the challenges of 2020 left them filing for Chapter 11 bankruptcy and resulted in significant layoffs, they have bounced back and resumed operations stronger than ever.
Recently, the company celebrated a remarkable milestone, achieving $75 million in sales just this year, with over 1.4 million players enjoying their VR experiences worldwide. A significant portion of these earnings comes from unique, in-house content like the intriguing Squid Game VR attraction, launched in 2023, raking in $30 million on its own. Sandbox VR’s captivating and immersive VR adventures, designed for groups of up to six participants, are priced between $50 and $60 per person.
Capitalizing on this momentum, Sandbox VR is ready to expand its horizons. This year alone, they plan to increase their footprint by around 50%, opening their 60th location in Philadelphia, Pennsylvania. Their prospectus outlines ambitious targets for 2025, stretching across the USA, various European nations, the Middle East, Asia, Africa, and countries across both Americas.
Kicking off 2024, Sandbox VR managed to sell 83 franchise units, and currently, they are developing roughly 150 total units in collaboration with 34 operators. They’ve seen an impressive sixfold increase in franchise signings over the past year—an encouraging sign of their growth and appeal.
Steve Zhao, the CEO and founder of Sandbox VR, expressed his excitement saying, “Reaching $200 million in lifetime sales is a huge milestone for us. It reaffirms our commitment to crafting engaging social VR settings that people love. As we expand globally, the demand from both operators and customers highlights the distinct appeal of what we offer.”
This year, on average, 117,000 eager players have engaged with Sandbox VR monthly. Looking ahead to 2025, they anticipate this number will jump to 150,000 monthly users as they continue to unveil new worldwide destinations.
