Sony Pictures will invest $100 million and take a minority stake in virtual reality venue operator Cosm, as the studio continues to build a business in communal experiences.<\/p>\n
As part of the investment, Sony Pictures Chief Executive Ravi Ahuja will also join Cosm\u2019s board of directors, the studio said Wednesday. The size of Sony\u2019s minority stake was not disclosed.<\/p>\n
The El Segundo-based Cosm currently operates three venues \u2014 one at Hollywood Park in Inglewood, and the others in Dallas and Atlanta. The company plans to open additional venues in Detroit and Cleveland.<\/p>\n
Cosm bills itself as a \u201cshared reality venue,\u201d and its facilities center around a massive, wraparound screen that is intended to envelop viewers with additional digital effects. The company has largely focused on sports, though it has also shown Cirque du Soleil shows and done several collaborations with Warner Bros., including recent screenings of 2001\u2019s \u201cHarry Potter and the Sorcerer\u2019s Stone\u201d<\/a> in honor of the film\u2019s 25th anniversary.<\/p>\n \u201cCosm sits at the intersection of several trends shaping the future of entertainment,\u201d Ahuja said in a statement. \u201cWe\u2019ve followed Cosm since before launch and have been impressed with the quality of the experience and the enthusiasm it\u2019s generating with audiences.\u201d<\/p>\n