747: Martin Higginson of Immotion discusses the deal to expand into the Chinese Aquarium Market

The Vox Markets Podcast

Martin Higginson CEO of Immotion Group #IMMO discusses the deal to expand into the Chinese Aquarium Market with initial installations into the 15 aquariums will total 180 seats with an annual footfall in excess of 32 million visitors across all sites.

Highlights

Immotion, the UK-based immersive entertainment group, has entered into into a three-year licensing deal for the Chinese Aquarium market. The Company will license a select number of its oceanographic virtual reality experiences under its 'Undersea Explorer' brand. The contract will be with Chinese Virtual Reality ("VR") company, Leke VR, a company that Immotion has dealt with for the past four years.

Each of the experiences will operate on motion platforms in a multi-seated environment. The experiences will be installed into an initial 15 aquariums on 1 July 2022, with the intention to roll the experiences out to many more aquariums.

The initial installations into the 15 aquariums will total 180 seats with an annual footfall in excess of 32 million visitors across all sites. Immotion will receive a licence fee of RMB 2.10 (circa £0.25) per play from each location.

To read the full RNS click HERE