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Sandbox VR, a leader in location-based virtual reality experiences, recently celebrated a significant milestone by surpassing $200 million in revenue. This growth comes hand in hand with their ambitious plan to open 29 new locations this year.
Sandbox VR first opened its doors in 2016, but like many businesses, it was hit hard by the COVID-19 pandemic. After filing for bankruptcy in 2020, they made a remarkable comeback, and now they’re truly thriving. In 2024 alone, the company generated $75 million in sales, attracting over 1.4 million players to its expanding array of global venues.
Much of their success can be attributed to their in-house creations, such as the hugely popular “Squid Game” VR attraction, which has pulled in $30 million since its debut in 2023. These immersive and social multiplayer VR games accommodate groups of up to six and typically cost $50-$60 per person.
With their 60th location opening soon in Philadelphia, Sandbox VR is about to increase its operational footprint by 50%. The company has exciting plans for the future, eyeing new markets in the USA, various European countries, the UAE, and several other regions across Asia, the Americas, and Africa by 2025.
Steve Zhao, CEO and founder of Sandbox VR, expressed his excitement over these achievements, emphasizing the company’s mission to create engaging VR experiences that foster social connections. The demand is evident not just from adventurous players worldwide but also from business operators eager to join their franchise model.
As of early 2024, they had already sold 83 franchise units, bringing the total number of units to nearly 150. This marks a remarkable sixfold increase in deal signings over the last year. Sandbox VR also noted that they welcomed about 117,000 players each month on average in 2024. By rolling out more locations, they expect these numbers to grow to approximately 150,000 monthly visitors in the coming year.
All signs point to a bright future for Sandbox VR, as it continues to capture audiences around the globe, proving that virtual reality experiences are not just a trend but a staple in entertainment.
