Podcast Intro

In 2017, IMAX tried to bring virtual reality to theaters, and failed. But the story didn’t end there.

In this episode, Bob Cooney explores what went wrong with IMAX VR, why its brand extension never made sense, and how a new generation of large-scale, story-driven VR experiences is succeeding where IMAX stumbled. From Horizon of Khufu and Titanic to the upcoming Black Mirror immersive experience, Bob connects the dots between IMAX’s documentary roots and today’s free-roam VR storytelling boom.

He also breaks down the numbers, the business models, and the opportunity for movie theaters sitting on underperforming auditoriums to transform them into profitable immersive venues.

Show Notes (for podcast platforms)

Topics Covered:

• How IMAX VR began and why it failed to align with IMAX’s core storytelling brand.

• The historical evolution of IMAX: from museum documentaries to blockbuster format.

• Why early VR gaming arcades couldn’t make money (low throughput, high labor, poor fit).

• The rise of “large-scale free-roam storytelling VR” , and why it works.

• Case studies:

  • Horizon of Khufu (Excurio) - the $25M immersive expedition that proved the model.

  • Univrse + Banijay’s upcoming Black Mirror VR - mainstream storytelling in LBE.

  • Wevr, Small Creative, and others bridging art, education, and entertainment.

• How 2,500 sq ft theaters can host 50+ guests profitably.

• The movie theater opportunity: converting 5,000 underperforming auditoriums into VR experiences.

• Real-world examples:

  • Sphere’s $15M pre-sales for Wizard of Oz.

  • Cosm’s immersive screenings of The Matrix and Willy Wonka.

  • IMAX generating 20% of opening-weekend box office on just 1% of global screens.

• Why collaboration among VR studios is essential, and how LEXRA aims to unite them.

Key Takeaway:
The future of immersive entertainment lies between cinema and gaming. Story-driven, free-roam VR - what Bob calls “walk-through theaters” - can do for this decade what IMAX did for the 2000s: redefine how audiences experience stories.

Connect & Continue the Conversation:

• Join the discussion at ⁠LEXRA⁠

• • Check out the latest in LBE VR/XR at ⁠the VR Collective⁠
  • Get news about the newest innovations and products straight to your inbox via the ⁠INSIDE VR newsletter⁠
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In this episode, Bob Cooney dives into NRG’s latest report, Gen Alpha Saves the Box Office, and what it reveals about the future of entertainment. Gen Alpha - the generation shaped by the pandemic - is craving real connection, immersive group experiences, and shared cultural events.

Bob breaks down 13 key insights from the study and connects them to opportunities for VR operators, immersive creators, and theater owners. From fandom-driven events to cross-generational storytelling and the rise of walk-through theaters, this episode explores how we can meet Gen Alpha’s demand for experiences that are interactive, immersive, and social.

Show Notes

Topics Covered:

• Why Gen Alpha craves connection after growing up isolated during the pandemic.

• The “third place” concept. How games and social VR worlds like Gorilla Tag have become Gen Alpha’s hangouts.

• The comeback of in-person group activities and local social experiences.

• How the new generation’s preferred movie length challenges the myth of short attention spans.

• Why shared, two-hour experiences feel worth the friction of getting out of the house.

• The power of fandom and opening weekends. Why young audiences crave cultural events, not just movies.

• The opportunity for VR arcades to create their own launch moments for new titles.

• Multi-sensory engagement—sound, scent, and motion as tools for emotional impact.

• “Cross-Gen Connectors”: content that bridges generations, like Mario Bros., Spider-Man, and the upcoming Terminator VR game from Hero Zone.

• How 54% of Gen Alpha want VR or 3D experiences in theaters, and 41% want hybrid game-movie experiences.

• The rise of walk-through theaters—VR experiences that blend storytelling and light interactivity.

• The big takeaway: the future of entertainment is interactive, immersive, and social—and it’s up to operators to turn VR into culturally relevant shared events.

Referenced Report:👉 Gen Alpha Saves the Box Office

Connect & Continue the Conversation:

• Join the discussion at LEXRA

• • Check out the latest in LBE VR/XR at the VR Collective
  • Get news about the newest innovations and products straight to your inbox via the INSIDE VR newsletter

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Summary:
In this special session, Bob Cooney gathers operators, marketers, and innovators to reflect on the challenges facing the location-based VR and immersive entertainment industry, and how to solve them together. Drawing on the Two Loops Model of Change, Bob frames the conversation around moving from the old system of traditional attractions to a new system powered by XR. The panel explores marketing best practices, building community through esports, revenue per square foot benchmarks, and how user-generated content can drive growth.

You’ll hear how operators are experimenting with local leagues, how marketers think about differentiation and brand, why reviews and authenticity matter more than polished ads, and why industry-wide standards are essential to scaling. Social media strategist Jacob closes the session with a case study showing how a single authentic video generated 25 million views and half a million shares for Zero Latency.

What You’ll Learn in This Episode:

• Why the immersive entertainment industry is at a tipping point, and how communities of practice can accelerate adoption.

• Insights from operators on integrating esports into VR venues and the challenges of standardization.

• Marketing takeaways: the importance of brand differentiation, user-generated content, and online reviews.

• Why tracking revenue per square foot is critical for operators, and how few do it today.

• The role of schools and local communities in building sustainable esports programs.

• A behind-the-scenes breakdown of a viral Zero Latency video that generated 500,000 shares and 30,000+ new followers.

• How authenticity in content creation beats polished campaigns, and why younger creators often outperform agencies.

Featured Guests:

• Jacob Giacobbi – Founder, CrowdSpecs, social media strategist for LBE.

• Katie Burke – Creative Director & GM, Pelagius VR.

• Salem Thyne – Operator, E-Sports Virtual Arenas.

• Andre Lawless – Founder, Lawless Marketing.

• • Bob Cooney – Host, facilitator, and XR strategist.

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  Links & Resources:

• • Find products and news about LBE XR: ⁠https://thevrcollective.com/⁠
  • Join LEXRA & the VR Collective community: ⁠https://www.lexra.org/ ⁠m

• • Replay Magazine: https://www.replaymag.com

  • Follow Bob’s blog: www.bobcooney.com/blog