05 Oct 2017
AMC strikes US$20m deal with Dreamscape Immersive to bring VR to cinemas in UK and US
BY Tom Anstey
Cinema chain AMC Entertainment has invested US$20m (€17m, £15.2m) into virtual reality specialists Dreamscape Immersive, in a bid to bring VR to British and the US cinemas next year.
Founded in January, the Los Angeles-based Dreamscape is developing VR attractions utilising full-body tracking technology by Swiss motion capture specialists Artanim. A VR headset attached to a backpack computer offers up to six users untethered movement around large physical spaces, with the system supporting shared interactions such as high fives, handshakes or real-life object manipulation.
Switzerland’s Artanim is behind the motion capture element of Dreamscape
The investment – which comes in the form of a US$10m (€8.5m, £7.6m) equity investment in the VR company, as well as a US$10m investment in creating content – is the first step of a “wide-ranging strategic partnership” from the Wanda-owned AMC, that will rapidly scale the development of Dreamscape in the coming months.
Since launch, the VR startup has had backing from some of Hollywood's biggest names, with the likes of Steven Spielberg, Warner Bros, and MGM all supporting the project.
Its leadership team is also impressive, with prolific film producer and former studio head Walter Parkes and Emmy Award-winning producer Kevin Wall acting as co-chairs, while its chief executive Bruce Vaughn spent 23 years at Disney, most recently as chief creative officer for Walt Disney Imagineering.
"While Dreamscape's immersive technologies represent the cutting edge of the digital world, its heart and soul rests firmly in the shared language of film,” said Parkes. “It's tremendously exciting that our first major commercial partnership is with the world's largest cinema exhibitor."
Dreamscape’s first opening – a standalone attraction – is slated to open at the start of next year, with a flagship site at the Westfield Century City Mall in Los Angeles. It also owns a multiplex in Manchester, the UK. The company has also green-lit its first piece of original content, with the company saying it is currently in licensing conversations with several major studios and IP-holders.
Dreamscape is one of several emerging names in the world of VR attractions, with many seeking investment from big name companies as this new realm of immersion takes its first steps. Among those, Disney threw its weight behind VR startup Jaunt, while Magic Leap’s mixed-reality technology has received investment from big names including Google and Warner Bros. The market continues to hot up with other competitors such as Russian startup Anvio, the Void and Zero Latency all looking to make their mark on the industry.
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