IMAX Raises $50 Million for VR Centers, Content

Plans on creating two dozen interactive virtual reality centers, along with original content

Theater company and camera manufacturer IMAX has raised $50 million to help fund at least two dozen virtual reality centers in theater complexes and tourist areas around the world, with original content that will be available across at-home VR platforms.

The VR showrooms are expected to open in the U.S., China, Japan, the Middle East and Western Europe, featuring both single- and multi-user experiences, lasting between 5-15 minutes each. The first VR centers are expected to open in Los Angeles and Manchester, England.

Consumer electronics company Acer, entertainment agency Creative Artists Agency (CAA), China Media Capital, Enlight Media, The Raine Group, investment firm Studio City, and marketing company WPP are among the investors in the endeavor.

Read more at B&C.