CINEPLEX EXPANDING VIRTUAL REALITY OFFERINGS

Cineplex Inc. is partnering with technology company VRstudios Inc.- to bring between 30 to 40 virtual reality installations to Canada.

The theatre giant says the partnership includes an investment by Cineplex to acquire a significant ownership interest in VRstudios – but did not disclose the financial terms of the deal.

Cineplex says the partnership will open up opportunities for virtual reality at its theatres – but could also lay the groundwork for broader expansion of the technology across North America and the world.

Cineplex currently uses virtual reality in its immersive gaming offering called the Void –  which is available at its Rec Room arcade and restaurant facilities.

The company has pushed to diversify its business beyond movie theatres in recent years – to combat box office volatility, streaming services including Netflix – and dips in audience numbers.

Michael Kramer

About Michael Kramer

Michael is the afternoon news anchor on the New Classical 96.3FM and hosts the program Zero to 1800.