What They Say
Forbes magazine spoke to the CEO of an LBE VR company, Spree Interactive at AWE in Santa Clara. The firm makes ‘free roam’ attractions and others such as VR Bumper Car systems.
The firm said that many of its clients are ‘above pre-pandemic levels’ and the firm said it has seen 250% revenue growth in the last two years. The Bumper Car attraction is the most popular with a number installed in Denmark, the Ukraine and Germany. The company said that its ‘average operator client’ sold 3,500 weekly plays in the summer of 2021.
The company has sold 40 bumper car VR attractions, 30 SPREE arenas, and 10 VR Bumper car systems in a short span of time and looks to double this in the next year. It is promoting its products at the IAAPA event in Florida.
SPREE has previously raised two seed rounds totaling EUR 5M from German media giant ProSiebenSat.1. Media SE [ETR:PSM] in 2019 and in 2020 from investors including Sweden’s Qualisys and German-based Berendsen Holding in 2020.
What We Think
The desire of some to catch up with experiences that have not been possible has to be balanced by the ‘HOGO’ (hassle of going out) effect which is causing more to stay at home. In the UK at the moment, this is a problem for restaurants and live-events which are seeing high numbers of ‘no shows’. (BR)
