Sony Pictures Entertainment is making a $100 million bet that the future of moviegoing lies beyond the traditional multiplex.
The studio has invested in Los Angeles-based immersive entertainment company Cosm, whose large-format venues blend cinema, live sports and hospitality to create what it describes as a shared, experiential viewing environment. As part of the investment, Sony Pictures Chief Executive Ravi Ahuja will join Cosm’s board, giving the studio a direct role in shaping the company’s expansion strategy, according to reports.
The investment reflects a broader shift across Hollywood as studios and exhibitors search for new ways to entice audiences back to physical venues after years of changing consumer habits and the rapid growth of streaming.
Founded in 2020, Cosm operates premium entertainment venues featuring massive curved LED screens designed to create an immersive viewing experience for films, live sporting events and concerts. Guests can watch programming from stadium-style seating, booths and dining areas, combining cinema with food, drinks and social interaction.
Sony’s investment comes as entertainment companies increasingly experiment with premium exhibition formats that offer experiences consumers cannot replicate at home.
Last year, Sony acquired the Alamo Drafthouse cinema chain, adding dine-in movie theatres to its exhibition portfolio. Meanwhile, Sphere Entertainment has sought to redefine live entertainment through its immersive Las Vegas venue, while IMAX has benefited from growing consumer demand for premium large-format cinema experiences, helping drive record box-office revenues in several markets.
For Sony, the Cosm investment complements a broader strategy of expanding beyond film production into the exhibition experience itself. The company owns some of Hollywood’s most valuable franchises giving it opportunities to develop exclusive immersive experiences around its intellectual property in the future.
It seems the next phase of theatrical entertainment is less about simply showing movies and more about creating destination experiences that combine storytelling, sport, technology and hospitality in a single venue.
First Published on