Wherever you look, “immersive” seems to be the new watchword in location-based entertainment (LBE). So, what is all the fuss about? Whether it’s theme park attractions, museums or galleries and exhibition venues, putting your audience at the heart of the action is definitely the way forward.
It’s all about the memories
Spending on “doing” brings us more happiness than spending on “having”. This is according to research from the McCombs School of Business at The University of Texas. People are just happier when they spend on experiential purchases versus material ones.
The thrill of seeing something unexpected or new is an experience that stays long in the memory. Meanwhile, the perceived value of material goods weakens over time.
It’s big business
The global location-based entertainment market size was valued at USD 3.05 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 34.4% from 2021 to 2028, according to Grand View Research.
That’s big business. Although these figures include a wide range of entertainment, from video games to theme parks, many of these immersive experiences will rely on the latest capabilities of projectors to create their immersive worlds.
Main image credit: Casa Batlló via Blooloop