Sony Pictures Entertainment has announced a $100 million strategic investment into Cosm, a global technology company that builds end-to-end solutions for immersive experiences.
The company will acquire a minority ownership stake in Cosm, and Sony Pictures Entertainment's chairman and CEO, Ravi Ahuja, will join Cosm’s board of directors.
Cosm will use the capital to support its next phase of growth, expanding its location-based entertainment (LBE) experiences and enhancing its technology across sports and entertainment.
Sony Pictures Entertainment has announced a $100 million strategic investment into Cosm
“Cosm sits at the intersection of several trends shaping the future of entertainment," Ahuja said.
"We’ve followed Cosm since before launch and have been impressed with the quality of the experience and the enthusiasm it’s generating with audiences."
Sony Pictures Entertainment's investment advances its focus on experiential entertainment, fandom and technology.
Alongside Cosm, the company will explore new ways to expand its intellectual properties via technology-enhanced LBE experiences.
Cosm's innovative technology
To date, Cosm has opened three immersive entertainment venues. These can be found in Los Angeles, Dallas and Atlanta. A fourth location is opening in Detroit this September, and a fifth in Cleveland early next year.
Cosm's innovative technology, called Shared Reality, seamlessly merges the physical and virtual worlds to immerse audiences in sports and entertainment experiences.
"Sony Pictures shares our passion for innovation and the future of the fan experience, and this investment represents that," said Cosm's president and CEO Jeb Terry.
To date, Cosm has opened three immersive entertainment venues, in Los Angeles, Dallas and Atlanta
"We will use this capital to fuel Cosm’s growth as we expand our venue network and advance our technology initiatives across both sports and entertainment.
"Sony is one of the most storied technology and entertainment companies in the world with IP spanning across films, tv, music, and games.
"Together, we're positioned to bring more of the world's most iconic IP to life in Shared Reality as we continue to super serve our fans around the world."
Images courtesy of Cosm
