Spielberg and Hollywood Heavyweights Join Forces To Support New VR Venture

Steven Spielberg and three major studios invested in Dreamscape Immersive, a new venture launching its flagship VR Multiplex in Fall 2017 as part of the reopening of Westfield’s Century City Mall in Los Angeles.

DreamWorks Pictures former studio head Walter Parkes and global live entertainment producer/entrepreneur Kevin Wall announced the completion of the Series A financing of Dreamscape Immersive. Investments came from industry heavyweights Warner Bros., 21st Century Fox, Metro-Goldwyn-Mayer (MGM), IMAX Corporation, Westfield Corporation, and Steven Spielberg.

Dreamscape wants to lure its audience members to step away from their computer to experience new environments in a virtual world, where they can walk freely with friends, see themselves, as well as interact with objects and each other. Swiss researchers at the Artanim Foundation developed the technology behind this concept, which they intend to initially use in two sectors of the consumer economy that struggle to draw consumers away from home-based digital alternatives: movies and retail shopping malls.

Dreamscape’s real estate vision starts with the launch of the VR Multiplex. They promise unique, irreproducible entertainment experiences that are vivid and compelling enough to bring consumers out of their house and into larger social and retail environments.

With movies, Dreamscape wants to provide another alternative for audiences to enjoy both original experiences and franchised properties. “Today, audiences can see movies in theatres in three formats: 2D, 3D, and IMAX,” explains Kevin Wall. “Now, audiences will have the ability to purchase a ticket, step inside of the story and experience it personally in a way never before imagined.”