Location-Based Entertainment, 2024–2031
Description
Location-based entertainment (LBE) refers to immersive video installations that leverage technology and a shared environment to create engaging experiences not typically achievable in homes. Immersive video LBE uses high-resolution, wide field of view domed and wall displays, and/or virtual reality (VR), augmented reality (AR), mixed reality (MR), collectively referred to as extended reality (XR), to achieve highly realistic experiences for participants.
Characteristics of immersive video LBE include:
Large-Scale Visuals: Wide field of view light-emitting diode (LED)/projection domed, and wall displays
Interactivity: Motion tracking, haptic feedback, and spatial computing
Group Experience: Unlike at-home XR, immersive LBE fosters social engagement among participants
Physical Integration: Real-world elements, such as moving floors, props, and themed architecture
Examples of immersive video LBE include wide field of view video venues, immersive art installations, theme park attractions, and VR arcades, often with mechanized components.
Revenues derived from venue ticket purchases translate to the owner's yearly revenues.
The 2023 debut of The Sphere in Las Vegas, Nevada and 2024 introductions of Cosm entertainment venues for large-scale domed theaters sparked public awareness of “beyond movie theater” immersion for concerts and sporting events with high-resolution displays and directional speakers.
While theme parks traditionally relied on mechanical rides, the inclusion of projected immersive video upgraded the experience and drew additional visitors after high upfront costs.
High-quality projected video, coupled with wide field of view domed screens similar to planetariums, expanded the feeling of immersion beyond the capabilities of traditional and IMAX movie theaters. Although most venues are location-specific, adopting modular and scalable technologies will help replicate successes across multiple locations while minimizing costs.
Cloud-based video and XR streaming can reduce the need for expensive on-site hardware, though bandwidth needs make this challenging.
Major studios like Disney and Universal combined their intellectual property from films and television to augment theme park attractions into immersive video rides and gamified, interactive areas that engage visitors beyond traditional, albeit entertaining, passive mechanical rides.
Post-COVID-19 saw a rise in live event revenue as performances returned; however, improvements in home and theater equipment led to the need to differentiate location-based entertainment.
High-quality, rewatchable immersive video experiences and/or in-demand artists and sporting events attract repeat visitors.
Generative artificial intelligence (AI) can render new stories and adapt to audiences to create dynamic, personalized experiences.
Partner with popular intellectual property franchises, such as film characters and stories, along with popular artists and creators, to drive audience awareness and brand recognition.
Immersive art exhibits draw large crowds, typically as time-limited attractions that travel between cities. Revenues from ticket sales are bolstered by physical merchandise sales of books, posters, and other items featuring the represented artists.
Beyond movie and streaming revenues, studios can engage viewers in “visiting” the locations of their fandoms in the form of immersive experiences at venues and theme parks, further extracting revenues from them.
Targeted social media and traditional advertising drive viewership and ticket sales, along with word-of-mouth marketing.
Merchandise can enhance revenue beyond ticket sales, particularly for popular IP.
Data analytics and personalization can tailor experiences and optimize customer retention.
Implement franchising/licensing models to expand globally with lower capital investment.
Characteristics of immersive video LBE include:
Large-Scale Visuals: Wide field of view light-emitting diode (LED)/projection domed, and wall displays
Interactivity: Motion tracking, haptic feedback, and spatial computing
Group Experience: Unlike at-home XR, immersive LBE fosters social engagement among participants
Physical Integration: Real-world elements, such as moving floors, props, and themed architecture
Examples of immersive video LBE include wide field of view video venues, immersive art installations, theme park attractions, and VR arcades, often with mechanized components.
Revenues derived from venue ticket purchases translate to the owner's yearly revenues.
The 2023 debut of The Sphere in Las Vegas, Nevada and 2024 introductions of Cosm entertainment venues for large-scale domed theaters sparked public awareness of “beyond movie theater” immersion for concerts and sporting events with high-resolution displays and directional speakers.
While theme parks traditionally relied on mechanical rides, the inclusion of projected immersive video upgraded the experience and drew additional visitors after high upfront costs.
High-quality projected video, coupled with wide field of view domed screens similar to planetariums, expanded the feeling of immersion beyond the capabilities of traditional and IMAX movie theaters. Although most venues are location-specific, adopting modular and scalable technologies will help replicate successes across multiple locations while minimizing costs.
Cloud-based video and XR streaming can reduce the need for expensive on-site hardware, though bandwidth needs make this challenging.
Major studios like Disney and Universal combined their intellectual property from films and television to augment theme park attractions into immersive video rides and gamified, interactive areas that engage visitors beyond traditional, albeit entertaining, passive mechanical rides.
Post-COVID-19 saw a rise in live event revenue as performances returned; however, improvements in home and theater equipment led to the need to differentiate location-based entertainment.
High-quality, rewatchable immersive video experiences and/or in-demand artists and sporting events attract repeat visitors.
Generative artificial intelligence (AI) can render new stories and adapt to audiences to create dynamic, personalized experiences.
Partner with popular intellectual property franchises, such as film characters and stories, along with popular artists and creators, to drive audience awareness and brand recognition.
Immersive art exhibits draw large crowds, typically as time-limited attractions that travel between cities. Revenues from ticket sales are bolstered by physical merchandise sales of books, posters, and other items featuring the represented artists.
Beyond movie and streaming revenues, studios can engage viewers in “visiting” the locations of their fandoms in the form of immersive experiences at venues and theme parks, further extracting revenues from them.
Targeted social media and traditional advertising drive viewership and ticket sales, along with word-of-mouth marketing.
Merchandise can enhance revenue beyond ticket sales, particularly for popular IP.
Data analytics and personalization can tailor experiences and optimize customer retention.
Implement franchising/licensing models to expand globally with lower capital investment.
Table of Contents
- Research Scope
- Scope of Analysis
- Segmentation
- Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative 8
- The Impact of the Top 3 Strategic Imperatives on the LBE Industry
- Growth Opportunity Analysis
- Growth Metrics
- Growth Drivers
- Growth Restraints
- Location-Based Entertainment by Segment
- Location-Based Entertainment by Region
- Competitive Environment
- Agenda
- Cosm
- Electrosonic
- Sphere Entertainment
- Growth Opportunity Universe
- Growth Opportunity 1: Strategic Content Partnerships
- Growth Opportunity 2: High-Growth Market Geographic Expansion
- Growth Opportunity 3: Technological Advancements
- Next Steps
- Benefits and Impacts of Growth Opportunities
- Next Steps
- List of Exhibits
- Legal Disclaimer
Pricing
Currency Rates
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