×
You will be redirected back to your article in seconds

Dave & Buster’s CEO: ‘Jurassic World’ VR Biggest Game Launch in Company’s History

Betting on virtual reality (VR) seems to be working out for Dave & Buster’s: The company’s new “Jurassic World VR Expedition” ride has turned into the biggest game launch in the company’s history, CEO Brian Jenkins revealed during Dave & Buster’s Q2 2018 earnings call Friday.

“Guest response has been strong and bodes well for future game releases on this platform,” Jenkins said, adding that the company planned to launch a second VR title towards the end of the year. “The plan is to build a library of VR content that allow us to capitalize on this opportunity for years to come,” he said.

Dave & Buster’s launched “Jurassic World VR Expedition” in over 100 locations across the U.S. and Canada in June. The ride combines motion chairs with HTC Vive VR headsets, allowing up to four players at a time to enter the world of the movie franchise together.

Despite the fact that it launched towards the end of the second quarter, “Jurassic World VR Expedition” already was “meaningfully incremental” to Dave & Buster’s Q2 2018 revenue, Jenkins said Friday. In fact, the chain has seen so much interest in the attraction that it is now considering to launch a second motion chair platform in additional locations. Currently, Dave & Buster’s operates a single four-seat motion chair platform in most of its locations.

The company reported Friday that it had generated $319.2 million in revenue in Q2, up 13.7% from last year’s Q2 results of $280.8 million. Net income of for the quarter was $33.8 million, or $0.84 per diluted share, up from $30.4 million in Q2 of 2017. Investors responded to this by sending the stock up 7.88% for the day.

Dave & Buster’s is just one of a number of companies looking to cash in on VR in an out-of-home setting. But while many other companies are building out standalone VR centers, Dave & Buster’s is clearly betting on its existing audience, which is also reflected in its pricing: “Jurassic World VR Expedition” costs just $5 per ride, compared to the $20 or more that some other VR center operators charge for their attractions.

“Jurassic World VR Expedition” has been developed by The Virtual Reality Company (VRC) in cooperation with Steven Spielberg’s Amblin Entertainment and Universal Studios, and has been considered one of the most successful commercial VR partnerships for a major motion picture studio to date. “This will be the first time that a studio receives a 7-figure check for VR,” VRC CEO Guy Primus recently told Variety.

More Digital

  • BTF Media, Vince Gerardis Pact Sign

    NATPE: BTF Media, Vince Gerardis Pact for Six Projects (EXCLUSIVE)

    MIAMI — BTF Media, producer of breakout series “Hasta Que te Conocí” and “El Secreto de Selena,” is teaming with Vince Gerardis, a co-executive producer with George Martin on “Game of Thrones,” on a six-project co-production alliance. Spearheaded at BTF Media by founder-partner Ricardo Coeto, the agreement takes in the development and co-production of the [...]

  • Bob Bakish Variety Cover Story

    Viacom Has Acquired Pluto TV Streaming Service for $340M

    Viacom has acquired Los Angeles-based video streaming service Pluto TV for $340 million in cash, both companies confirmed Tuesday. “Today marks an important step forward in Viacom’s evolution, as we work to move both our company and the industry forward,” said Viacom CEO Bob Bakish in a statement. “Pluto TV’s unique and market-leading product, combined [...]

  • Bob PittmanVariety Entertainment Summit at CES,

    iHeartMedia Bankruptcy Plan Approved, CEO Bob Pittman's Contract Renewed

    A U.S. court has approved the bankruptcy plan of iHeartMedia, the biggest radio broadcaster in the U.S., which will shave down its crushing debt load and separate iHeartMedia from Clear Channel Outdoor Holdings. The company said chairman and CEO Bob Pittman and Rich Bressler, president, COO and CFO, have extended their contracts by four years. [...]

  • Instagram Logo

    Netflix Lets iOS Users Share Movies, Shows to Instagram Stories

    Netflix is tapping into Instagram Stories for some word-of-mouth promotion: The streaming video service rolled out a new Instagram integration Tuesday that allows iOS users to share their favorite movies and TV shows via Stories. To do so, users simply select the title of their choice within the Netflix iOS app, and then share it [...]

  • Brian Lockhart - ESPN+

    ESPN Hires NFL Media's Brian Lockhart to Head ESPN+ Original Content

    ESPN recruited Brian Lockhart, who has spent more than a decade at NFL Media, as executive producer of original content for the ESPN+ subscription-streaming service. Lockhart will oversee strategy and development for all ESPN+ original programming initiatives, including new projects as well as existing shows such as “Detail,” “More Than an Athlete,” “The Board Room,” [...]

  • Roma

    Netflix Joins the Motion Picture Association of America

    UPDATED WASHINGTON — Netflix has joined the Motion Picture Association of America, a move that reflects its evolution as a major player in the movie business. The MPAA currently has six major studios as members, and it collected about $38 million in membership dues in 2017, according to its most recent filing with the IRS. [...]

More From Our Brands

Access exclusive content