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Sandbox VR, the renowned location-based virtual reality destination, has hit a major milestone by surpassing $200 million in lifetime revenue. This achievement comes as the company is set on a significant global expansion with plans to add 29 new locations by the end of the year.
Since its inception in 2016, Sandbox VR has navigated through some challenging times, including surviving the COVID-19 pandemic. After temporarily closing doors and undergoing Chapter 11 bankruptcy in late 2020, the company has bounced back, making a substantial recovery that underscores its resilience.
In 2024 alone, Sandbox VR saw a staggering $75 million in sales, attracting over 1.4 million players to its ever-growing network of VR experiences worldwide. A large portion of this revenue surge can be attributed to the company’s original content, notably the popular Squid Game VR attraction. Launched in 2023, this attraction alone has raked in $30 million, highlighting its significant role in Sandbox VR’s recent success. The fully immersive experiences offered by Sandbox VR, costing between $50 and $60 per person, can accommodate groups of up to six players at a time.
Emboldened by these achievements, the company is accelerating its expansion, aiming to open 29 new branches this year. This means nearly a 50% increase in its operational scale, with the 60th location making its debut this month in Philadelphia, Pennsylvania.
Looking ahead to 2025, Sandbox VR has its eyes on a diverse range of target markets. These include the USA, several European countries, the UAE, Saudi Arabia, Bahrain, Qatar, and many others spanning across North America, Africa, and Asia.
Since the start of 2024, Sandbox VR has successfully sold 83 franchise units. This brings the total development projects to almost 150, managed by 34 operators globally. Such growth is remarkable, marking a sixfold increase in franchise deals compared to the previous year.
Steve Zhao, CEO and founder of Sandbox VR, reflects on this success, saying, “Reaching $200 million in lifetime sales is a significant milestone for us, affirming our commitment to create immersive, social VR experiences that connect people. The global expansion through our franchise model is being met with unprecedented demand, as both operators and consumers recognize the unique value we offer.”
Moreover, the company reports an impressive average monthly visitor count of 117,000 individuals in 2024. With new locations set to open, this number is expected to rise to 150,000 average monthly visitors in 2025, ushering in a new era of growth for Sandbox VR.
