Once upon a time, the company with the biggest screens in the world made a big bet on virtual reality. IMAX opened seven VR centers in movie theaters around the globe, each of which hosted a rotating selection of games, social experiences, and short narrative pieces. It set up a $50 million fund to develop content for those centers. It partnered with Google to build a next-generation camera that would allow filmmakers to realize their next-generation VR dreams. Then it all disappeared. The camera project was canceled. That $50 million fund resulted in a single title, a Justice League tie-in that was so not-supersized that it could be purchased and played by home consumers. The VR centers started to close. This past December, IMAX let shareholders know that the rest of it—the remaining centers and “certain VR content investments”—would be winding down as well. That was that, it seemed. VR and movie theaters seemed like a good match in theory, but if a player like IMAX bows out, what chance would those crazy kids have? A pretty good one, as it turns out. Because while IMAX was closing its centers, other big theater chains were tiptoeing into the space, using… Read full this story
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