Sandbox VR, a leader in location-based virtual reality adventures, has achieved a remarkable milestone, surpassing $200 million in lifetime revenue. As part of their ambitious global expansion plan, they are set to launch 29 additional locations this year.
This impressive feat is a testament to the resilience of the company, which was established in 2016. Despite having faced significant challenges during the COVID-19 pandemic, including a stint in Chapter 11 bankruptcy and necessary staff reductions, Sandbox VR has bounced back stronger than ever since late 2020.
The company is celebrating a record-breaking $75 million in sales for this year alone, showcasing the enthusiasm of over 1.4 million players who have enjoyed their immersive experiences at various locations around the world. A significant driver of these revenues has been Sandbox VR’s proprietary content, with attractions like the popular Squid Game VR experience, which has netted $30 million since its debut in 2023. Players are drawn to these high-energy, fully immersive multiplayer VR games, which cost between $50 and $60 per person and can accommodate up to six participants simultaneously.
Driven by this successful engagement, Sandbox VR is confidently moving forward with a planned 50% increase in their operational footprint, opening their 60th venue this month in Philadelphia, Pennsylvania. The company’s strategic growth plan targets a wide array of international markets by 2025, including the USA, various European countries, and regions across the Middle East, Asia, and beyond.
Since the beginning of 2024, Sandbox VR has seen a surge in franchise sales, signing on 83 new franchise units, pushing them to nearly 150 units in development across 34 operators. This marks a substantial sixfold increase in franchise deals compared to the previous year.
Steve Zhao, CEO and founder of Sandbox VR, regards this $200 million revenue milestone as a pivotal endorsement of their mission. “It’s a huge accomplishment that underlines our commitment to providing unique and social VR experiences,” he shared. With the continued global expansion through their franchise model, Sandbox VR is meeting growing demand from both business partners and consumers who appreciate the distinctiveness of their offerings.
In 2024, an average of 117,000 people frequented Sandbox VR each month, a figure projected to rise to 150,000 in 2025 as they open more locations worldwide.
