Sandbox VR has hit an impressive milestone, reporting over $200 million in lifetime revenue as it vigorously expands worldwide, with plans to unveil 29 new locations this year alone.
Founded back in 2016, Sandbox VR stands out as one of the few location-based VR experiences that managed to weather the storm of the COVID-19 pandemic. After facing the daunting challenge of filing for Chapter 11 bankruptcy and laying off a large portion of its staff during the pandemic’s peak, the company made a strong comeback in late 2020.
Fast forward to today, Sandbox VR reports hitting the $200 million revenue benchmark, with $75 million recorded in sales in 2024 from an impressive 1.4 million players enjoying their diverse global sites. A considerable part of this revenue boom stems from their proprietary content, like the popular Squid Game VR attraction. Since its 2023 release, this attraction has raked in $30 million alone, adding substantial weight to their recent revenue figures. Customers can enjoy these highly immersive multiplayer VR experiences for about $50-$60 each, with room for up to six participants per session.
Buoyed by this success, Sandbox VR is ambitiously opening 29 more venues throughout the year, roughly boosting its footprint by 50%. This month, they are cutting the ribbon on their 60th location in Philadelphia, Pennsylvania. Looking ahead to 2025, their expansion map covers an impressive range of markets, including the USA, several European countries, and regions like the Middle East, Asia, Africa, and beyond.
Since the year kicked off in 2024, Sandbox VR has successfully sold 83 franchise units, bringing the development tally to nearly 150 across 34 operators. This leap marks a remarkable sixfold growth in franchise deals within just a year.
Steve Zhao, CEO and founder of Sandbox VR, remarked on the achievement by saying, “Reaching $200 million in lifetime sales is a testament to our mission of crafting immersive, social VR experiences that connect people. Our global expansion through franchising has sparked incredible interest from both operators and customers who see the unique advantages we offer.”
Impressively, the company noted that about 117,000 players visited Sandbox VR locations each month in 2024, with expectations for that number to rise to 150,000 in 2025 as they continue to open more venues across the globe.
