Immotion has honed in on FECs and other leisure attractions as its target market as the out-of-home VR manufacturer aims to roll out 1000 headsets by the end of next year. CEO Martin Higginson explains.
Immotion is focused on “execution and roll out” now that the out-of-home virtual reality company has found its target market in family entertainment centres and other popular leisure attractions.
Martin Higginson, CEO of Immotion, explained to VOX Markets that 2018 had seen the conclusion of the start-up’s strategy phase, with the LSE-listed company learning which markets have the best opportunities for growth going forward.
“What I’m pleased to say now is that we’ve got it right, we are getting amazing results from the sectors we are operating in, we’re very focused on those sectors and we’ve dumped everything else,” said Higginson. “For us it’s about quality over quantity; it’s about quality headsets, and the more revenue we get from those headsets then the lower our break even becomes and the higher our profitability becomes. So we are very focused on maximising return on investment now we’ve got the model right – it’s now just about execution and roll out.”
During this next phase, Immotion has set its sights on a milestone of 1000 headsets by 2020. The company has already partnered with Merlin for Sealife, as well as Shedd Aquarium and Santa Barbara Zoo in the US, and it is now looking to make more deals with attractions that see a footfall of over 500,000 visitors per year.
“There’s lots of opportunities for us, there’s thousands of zoos around the world, thousands of aquariums, thousands of family entertainment centres; we’ve got big audience to go at,” said Higginson.
“For us it’s about being very selective, we’ve got Merlin, we’ve got Shedd Aquarium – which is the third largest aquarium in the US, we’ve got Santa Barbara zoo, we’ve got Sealife with Merlin. So we’ve got some big big names and they stand as great due diligence for any newcomer coming on board.
For us, it’s about checking the footfall of the site, we want places that are doing north of half a million in footfall, so then that gives us the volume and them a great source of ancillary revenue, but also it gives operators something over and beyond as a reason people go to their zoo or aquarium.
They can advertise – and we give them all the marketing material – so they can say; ‘come and experience swimming with sharks’, or whales, or whatever it may be.”