Imax’s $50 Million Fund Could Buoy VR Ecosystem

Published by , November 14, 2016 12:54 am

(VentureBeat) IMAX announced it was partnering with Acer and Creative Artists Agency to fund at least 25 interactive VR experiences with a $50 million fund. Over the next three years, IMAX could usher in more high-quality VR experiences, which is what the VR industry needs in order to live up to expectations. Tech advisor Digi-Capital estimates VR and AR could generate $120 billion in revenues in 2020.
The IMAX fund investors include CAA; Acer; China Media Capital; China’s Enlight Media; Studio City; and WPP, the ad services giant. IMAX plans to charge $7 to $10 for VR experiences that last maybe 10 minutes. Similar businesses are being set up for location-based VR in China, where Internet cafes see a new source of revenue in VR.

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