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Sandbox VR, a company specializing in location-based virtual reality experiences, has hit a significant milestone, surpassing $200 million in lifetime revenue. This achievement comes as they accelerate their global expansion plans, with a hefty 29 new locations anticipated to launch this year.
Established in 2016, Sandbox VR managed to weather the storm of the COVID-19 pandemic, reemerging from Chapter 11 bankruptcy in late 2020. During that tough period, they had to let go a majority of their workforce and temporarily close their operations. However, they bounced back stronger, and this year alone, they’ve pulled in $75 million, engaging over 1.4 million players globally.
A sizable chunk of their revenue stems from their exclusive in-house content. A standout example is their Squid Game VR attraction, which alone has amassed $30 million since its launch in 2023. Their immersive multiplayer experiences, priced between $50 and $60 per person for a group of up to six, have proven to be a popular draw.
This recent wave of success is fueling their expansion, as they plan to increase their presence by around 50% this year. They are set to open their 60th location in Philadelphia, Pennsylvania, marking a significant step in their growth journey.
Looking ahead, Sandbox VR has its sights set on various international markets by 2025. These include the USA, several European nations, as well as countries in the Middle East, Asia, and beyond. Their expansion strategy is supported by an impressive 83 franchise units sold since the start of 2024, totaling nearly 150 units in development with 34 different operators.
Steve Zhao, the CEO and founder of Sandbox VR, remarked, “Hitting $200 million in sales is a major milestone for us. It not only reflects the success of our mission to offer immersive, social VR experiences but also underscores the huge demand from both operators and consumers for what we have to offer.”
In 2024, an average of 117,000 players visited Sandbox VR locations each month, and with their planned expansion, they expect this number to grow to 150,000 per month by 2025. This steady increase in player engagement is a testament to their growing footprint and the appeal of their unique VR experiences worldwide.
