Sony Pictures Invests $100 Million in Cosm as Dome Network Expands to 5 U.S. Cities
Updated
Updated · NBC News · Jun 24
Sony Pictures Invests $100 Million in Cosm as Dome Network Expands to 5 U.S. Cities
3 articles · Updated · NBC News · Jun 24
Summary
$100 million from Sony Pictures will give the studio a minority stake in immersive venue operator Cosm, deepening its push beyond film and TV distribution.
Cosm’s dome venues use “Shared Reality” technology to project sports, concerts and other events on wraparound LED screens, offering Sony a new way to extend its intellectual property through immersive experiences.
Ravi Ahuja, Sony Pictures’ CEO, will join Cosm’s board as the company uses the capital to expand its venue network and technology across sports and entertainment.
Three Cosm domes are already open in Los Angeles, Dallas and Atlanta, with Detroit set for September and Cleveland next year; the company said more U.S. and international sites are coming.
The deal builds on Cosm’s July 2024 funding round, when it raised $250 million at a valuation above $1 billion.