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In a move toward market differentiation, Cinemark has opened its first VR installation, in partnership with Spaces in San Jose, California. This location is the first of many coming to Cinemark lobbies in the U.S. this year.
The investment in VR installations is not a far-fetched idea for a theater chain. Cinemas are seeing less traffic as they compete with each other and with growing streaming services. Consumers are going to the movies less often than five years ago, with audiences preferring the comfort and convenience of their home theater. This has lead theater operators, including Cinemark, to deploy premium recliners, experiences, and food and beverages to create a next-level theater experience. VR is a natural next step of this.
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