Cineplex signs VR deal to bring between 30 and 40 installations to Canada - 1310 NEWS
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Cineplex signs VR deal to bring between 30 and 40 installations to Canada

Last Updated Sep 13, 2018 at 5:40 pm EST

A Cineplex theatre is seen Friday May 22, 2015 in Ottawa. Cineplex Inc. is partnering with technology company VRstudios Inc. to bring between 30 and 40 virtual reality installations to Canada. THE CANADIAN PRESS/Adrian Wyld

TORONTO – Cineplex Inc. is partnering with technology company VRstudios Inc. to bring between 30 and 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 globe.

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.

Companies in this story: (TSX: CGX)

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