Sandbox VR, a prominent name in location-based virtual reality entertainment, recently hit an impressive milestone, raking in over $200 million in lifetime revenue. This achievement aligns with their ambitious global expansion goal for the year, as 29 new spots are set to open their doors.
Founded back in 2016, Sandbox VR has managed to stand tall among out-of-home VR offerings. Even the challenges of the COVID-19 pandemic couldn’t keep them down; they emerged from a Chapter 11 bankruptcy in late 2020, after what was a tough year with significant staff layoffs and temporary closures.
Fast forward to 2024, and Sandbox VR proudly reports pulling in $75 million in sales within the year, entertaining over 1.4 million players worldwide. This surge in revenue can largely be credited to their popular proprietary VR games, like the recent Squid Game VR attraction, which alone has brought in $30 million since its 2023 debut.
Their immersive multiplayer VR experiences, known for their striking graphics and engaging gameplay, are priced between $50 and $60 per person and can accommodate up to six players per session. This pricing model has proved profitable and is fueling their rapid growth.
This remarkable success has spurred an expansion spree, with 29 new locations adding to their existing portfolio this year. Sandbox VR continues its journey by marking the opening of its 60th location in Philadelphia, Pennsylvania.
Looking ahead to 2025, the company’s growth strategy is ambitious. Their franchise plans target a diverse array of countries, including the USA, various European nations, the UAE, and several more locations in Asia, Africa, and South America.
Since the start of 2024, they’ve sold 83 franchise units, now having close to 150 units in the pipeline with 34 operators. This reflects a remarkable sixfold increase in franchise deals over the past year.
Steve Zhao, the CEO and founder of Sandbox VR, expressed his pride in the company’s achievements: “Reaching $200 million in lifetime sales is a significant milestone for us and reinforces our mission to offer immersive, social VR experiences that connect people. Our global expansion through franchising is seeing soaring demand from operators and consumers alike who value our unique offerings.”
Moreover, during 2024, Sandbox VR welcomed approximately 117,000 players each month. They are optimistic about boosting these numbers to an average of 150,000 monthly players in 2025, driven by their opening of new global locations.
