ARena Space to Launch in NYC and London
ARena Space, a global chain of scalable, data-driven VR parks for retail and entertainment industries, eyes a mid-2020 launch in New York City and London. Last year, the company raised over $8 million to accelerate its international expansion and is now planning a new round of $30 million. Other prospective locations, including Los Angeles, Berlin, Barcelona, and Dubai, will open by the end of 2020. Over the next five years, ARena Space is planning to create its own data-driven VR parks in more than 20 cities around the world.
The ARena Space standard park has up to 10 different zones focusing on different target audiences, occupying anywhere from 1,615 square feet (150 square meters) to 26,900 square feet (2500 square meters), depending on the location. The most popular ARena Space sizes are 2,690 square feet (250 square meters), 6,458 square feet (600 square meters), and 10,764 square feet (1,000 square meters).
Beginning in 2016, more than 150,000 people have visited ARena Space parks. The company is also providing scalable solutions for shopping malls and amusement parks around the globe. The data-driven approach developed by the company allows for customer retention to be increased at a rate of five times that of traditional entertainment.
“Our data-driven approach gives us and our partners insights into our customers and their preferences,” said Vasily Ryzhonkov, ARena Space founder and CEO. “Family entertainment centers and cinemas are becoming less profitable. They require more investment but their lifecycle is shortening because consumers are bored of existing entertainment and are looking for more immersive and engaging experiences.”
According to ARena Space data, consumers are prepared to spend up to $70 per person 12 times a year in indoor entertainment parks, but only if the attractions excite them. ARena Space’s data-driven approach regularly provides new content and personalized experiences to increase consumer retention. The company’s management system analyzes sales to maximize efficiency while offering a personalized experience to customers at traditional shopping malls and amusement parks. Launched in 2015, the company is currently operating four VR parks in Europe and enjoys on average 5,000 – 6,000 visitors per month in medium sized parks of 6,674 square feet (620 square meters).