Sandbox VR Reaches $200M in Lifetime Revenue, Plans 29 New Locations by 2025

Sandbox VR, a prominent location-based VR destination, proudly announced that it has surpassed an impressive $200 million in lifetime revenue, riding on a wave of rapid global expansion. This year alone, they have ambitious plans to open 29 new venues.

Since its inception in 2016, Sandbox VR has been a resilient player in the out-of-home VR market. The company bravely weathered the storm of the COVID-19 pandemic, emerging from Chapter 11 bankruptcy in late 2020. Back then, they had to make the tough decision to lay off most of their staff and shut down their operations temporarily.

Fast forward to 2024, and Sandbox VR has hit a remarkable $200 million revenue milestone, pulling in $75 million this year alone. This impressive figure comes from the 1.4 million players who have experienced Sandbox VR’s offerings at their ever-growing number of locations worldwide.

A substantial portion of the revenue can be attributed to Sandbox VR’s exclusive in-house-designed content. Their latest hit, the Squid Game VR attraction, alone has brought in $30 million since its launch in 2023. This attraction is part of their fully-immersive VR experiences, where groups of up to six players pay $50-$60 each for a session.

This string of successes has fueled Sandbox VR’s determination to increase its global presence exponentially. This year, the company is gearing up to launch 29 new locations, effectively boosting their footprint by around 50%. They are about to unveil their 60th location in Philadelphia, Pennsylvania.

The company’s future plans, as laid out in their franchise prospectus, include targeting markets in the USA, several European nations, the UAE, Saudi Arabia, Bahrain, Qatar, Kuwait, Egypt, Canada, Malaysia, India, the Philippines, Australia, Indonesia, Thailand, Vietnam, South Africa, South Korea, Mexico, Chile, and Turkey come 2025.

Starting from the beginning of 2024, Sandbox VR has sold 83 franchise units, amassing nearly 150 units currently in development, operated by 34 partners. This marks a substantial sixfold surge in deal signings over the past year.

“Achieving $200 million in lifetime revenue underscores a significant milestone for Sandbox VR and reaffirms our mission to offer immersive, social VR experiences that unite people,” stated Steve Zhao, CEO and founder of Sandbox VR. “As we expand globally with our franchise model, there’s extraordinary demand from operators and consumers alike, who are recognizing the unparalleled experience we provide.”

Moreover, the company noted that throughout 2024, an astounding average of 117,000 players have visited Sandbox VR monthly. They are optimistic that by 2025, with the development of new locations worldwide, this monthly average will rise to 150,000 players.