Immotion Group PLC New Concession Partners (1248W)
April 15 2019 - 2:00AM
UK Regulatory
TIDMIMMO
RNS Number : 1248W
Immotion Group PLC
15 April 2019
15 April 2019
Immotion Group plc
("Immotion Group", the "Company")
Concession Update
Immotion Group, the UK-based immersive virtual reality ("VR")
'Out of Home' entertainment business, is pleased to announce that
it has been appointed to install aquatic immersive experiences at
two major aquariums in the US. The installations follow the recent
release of Immotion Group's live action VR movie 'Swimming with
Humpbacks'. The film prompted a large number of enquiries from zoos
and aquariums, as well as aquatic research and charity groups.
Immotion Group will install a range of VR cinematic motion pods
on a Concession basis, at Odysea Aquarium, in Scottsdale, Arizona,
and The Maritime Aquarium, in Norwalk, Connecticut. These two major
sites, which have a total footfall exceeding 1.5 million customers
per year, will operate on a revenue share basis. The Board believes
the focus on the aquaria sector and the signing of these aquariums
will further strengthen its growing recurring revenues.
Combining both motion and amazing imagery, visitors will be able
to transport themselves to an immersive world. They will be able to
'virtually' swim with some of the most amazing creatures in the
oceans.
The installations at these aquariums follow the Company's
recently announced SEA LIFE trial with Merlin Entertainments Plc.
With more than 200 zoos and aquariums in the USA alone, and 2,000
around the world*, the Board believes that this industry represents
an exciting market opportunity for Immotion Group. The Board is
confident that it will prove to be a valuable new revenue channel
for the Group and its Concession Partners.
The Company is developing more content for this new audience.
'Swimming with Humpbacks' is the first of Immotion Group's Blue
Ocean series of underwater VR experiences. Each experience will be
carefully curated to deliver maximum impact and excitement to
customers.
Rod Findley, Group Commercial Director, Immotion Group said: "We
are thrilled to have signed up three major aquariums so quickly
after the release of our "Swimming with Humpbacks" VR movie. Demand
for immersive "Edutainment' is growing, and interest from the zoo
and aquarium industry is at an all-time high. Immotion Group can
deliver something new and unique to their customers, while also
providing valuable ancillary revenue. Working in partnership with
larger venues we are able to install a tailored solution at no cost
to the venue, rather providing on-going revenue share agreement,
creating solid annuity revenues for both parties."
Ken Musen, Director of Immersive Live Action at Immotion Group,
said: "We are thrilled to be able to film in VR some of the most
amazing ocean creatures. It was a pleasure to film the Humpbacks.
What the team has managed to capture is truly amazing. In the next
month, we will set off to film sharks, which for way too long have
been vilified. This new film will allow our customers to get up
close and personal with these majestic creatures."
* Source - The Association of Zoos and Aquariums.
-ends-
Enquiries:
Immotion Group Martin Higginson Tel: +44 (0) 161 235 8505
WH Ireland Limited Adrian Hadden Tel: +44 (0) 207 220 1666
(Nomad and Joint Broker) Jessica Cave
Shard Capital Partners Damon Heath Tel: +44 (0) 20 7186 9900
LLP Erik Woolgar
(Joint Broker)
Leander Capital Partners Alex Davies Tel: + 44 (0) 20 7195 1458
Newgate Communications Elisabeth Cowell Tel: +44 (0) 20 3757 6880
(Financial PR) Tom Carnegie immotion@newgatecomms.com
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END
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