Sony has announced a $100 million investment in Cosm, a company that operates immersive venues described as 'sphere-like.' This investment suggests that Sony, a Tokyo-headquartered conglomerate, now holds approximately a 10% ownership stake in Cosm, valuing the El Segundo-based company at $1 billion as of 2024.
A source close to Sony indicated that Cosm's appeal to sports fans was a significant factor in the decision. Ravi Ahuja, Chairman and CEO of Sony Pictures Entertainment, has reportedly been interested in Cosm for over a year and will join the company's board as part of the agreement. Beyond film, Sony sees potential collaborations with its music, anime, and interactive divisions, including PlayStation.
This move follows Sony's previous acquisition of Alamo Drafthouse, a cinema chain known for its dine-in experience, two years ago. Cosm's venues, which offer live sports presentations priced around $100, opened its first location near SoFi Stadium in 2024. Additional venues have since opened in Dallas and Atlanta, with plans for further expansion.
Cosm has recently expanded its offerings to include "shared reality" versions of popular films such as "The Matrix" and "Harry Potter." While the investment is significant, a source stated that discussions about a potential acquisition of IMAX have not occurred and that it is too early to consider such a move.