Sandbox VR, a leader in location-based virtual reality experiences, has proudly announced that it has exceeded $200 million in total revenue. This impressive achievement comes as the company accelerates its global expansion, with ambitious plans to launch 29 additional locations this year alone.
Emerging onto the scene in 2016, Sandbox VR has proven to be one of the few VR attractions resilient enough to withstand the turbulence brought on by the COVID-19 pandemic. After a challenging period of Chapter 11 bankruptcy and widespread staff layoffs, the company made a strong comeback in late 2020 and has been gaining momentum ever since.
In 2024, Sandbox VR hit the impressive $200 million revenue mark, thanks to $75 million in sales generated by more than 1.4 million players who have visited their locations around the world this year. A substantial portion of this success is attributed to its exclusive in-house content, such as the popular Squid Game VR attraction. Since its 2023 debut, this attraction alone has brought in $30 million, underscoring its significant role in the company’s recent growth. At Sandbox VR, guests can indulge in deeply immersive multiplayer experiences, accommodating up to six players, with ticket prices ranging from $50 to $60 each.
With these promising achievements, Sandbox VR is set to increase its footprint by around 50%, marking a bold move with the introduction of 29 new locations this year. The company is eagerly anticipating the opening of its milestone 60th location in Philadelphia, Pennsylvania, later this month.
Looking forward to 2025, the company’s prospectus identifies key markets for expansion, including the USA, various European nations, several Middle Eastern countries like UAE and Saudi Arabia, and many others worldwide, including Canada, India, Australia, and South Africa.
Since the start of 2024, Sandbox VR has successfully sold 83 franchise units, pushing the total count of units in development to nearly 150, managed by 34 operators. This marks a remarkable sixfold increase in signed deals over the past year alone.
Steve Zhao, the CEO and founder of Sandbox VR, expressed his excitement: “Reaching $200 million in lifetime sales is a major milestone for us. It affirms our mission to create engaging and social VR experiences that foster human connections. As we scale our global presence through our franchise model, we’re witnessing extraordinary interest from operators and consumers alike, all eager to experience the unique value we offer.”
The company also revealed that an average of 117,000 players visited Sandbox VR each month in 2024. With the ongoing launch of new locations worldwide, they anticipate this average to jump to 150,000 monthly players in 2025, signaling a bright future for the company’s continued growth and success.
