Sony Pictures Shakes Up Cinema with $100M in Cosm’s Dome‑Reality

Sony Pictures Entertainment announced a $100 million investment in Cosm, a start‑up that operates domed venues offering “shared reality” experiences such as movies, live sports and immersive shows. The deal makes Sony the lead investor in Cosm’s Series C round and gives the studio a minority ownership stake.

CEO Ravi Ahuja will also join Cosm’s board of directors, signaling a close partnership between the two companies.

The move comes amid a broader industry push toward experiential entertainment that satisfies consumers willing to pay premium prices for next‑generation viewing. With Imax, Sphere Entertainment and formats like ScreenX and 4DX already proving profitable, Cosm’s technology‑driven model fits squarely into this trend.

The company’s dynamic pricing allows fans to shell out up to $100 , a feature that has already attracted large audiences.

Cosm launched its first venue in Inglewood, California, in 2023 near SoFi Stadium and the Intuit Dome. Since then it has expanded to Atlanta and Dallas, with new locations slated for Cleveland and Detroit.

Each domed auditorium features a 60‑foot‑tall, wrap‑around ultra‑high‑resolution screen that can broadcast live sports year‑round and host retrofitted blockbuster films like *The Matrix* and the original *Harry Potter* film. Smaller ancillary rooms provide food, beverages and additional viewing options.

## Background & Context

Shared‑reality venues blend high‑definition screens with immersive audio and spatial effects, creating a “virtual theater” that can show both cinematic and live sports events. Cosm’s business model relies on dynamic ticket pricing, allowing the company to capture significant revenue from marquee matchups.

In 2024, the start‑up raised $250 million from investors including Steve Winn, former Milwaukee Bucks co‑owner, Marc Lasry of the Cleveland Cavaliers, Dan Gilbert, and Bolt Ventures.

The company’s expansion strategy has focused on locations that complement major sports and entertainment hubs. Inglewood’s proximity to SoFi Stadium and the Intuit Dome provided an ideal launchpad.

Atlanta and Dallas were chosen for their sizable markets and existing fan bases, while upcoming sites in Cleveland and Detroit aim to tap into strong regional sports cultures. All venues feature domed auditoriums with ultra‑high‑resolution screens capable of showing live events all year round.

## What People Are Saying

In a statement, Ravi Ahuja said, “Cosm sits at the intersection of several trends shaping the future of entertainment.

We’ve followed Cosm since before launch and have been impressed with the quality of the experience and the enthusiasm it’s generating with audiences.” He added, “We’re excited to support Cosm’s next phase of growth and help bring these experiences to more fans around the world.”

Cosm CEO Jeb Terry echoed the enthusiasm, stating, “SPE shares our passion for innovation and the future of the fan experience, and this investment represents that.” Terry went on to explain how the capital would be used: “We will use this capital to fuel Cosm’s growth as we expand our venue network and advance our technology initiatives across both Sports and Entertainment.

Sony is one of the most storied technology and entertainment companies in the world with IP spanning across films, tv, music, and games. Together, we’re positioned to bring more of the world’s most iconic IP to life in Shared Reality as we continue to super serve our fans around the world.”

## What Happens Next

The investment will enable Cosm to accelerate expansion of its venue network and invest in technology upgrades that enhance both sports and entertainment offerings. Sony plans to explore new ways to extend its world‑class intellectual property through differentiated, tech‑forward experiences, thereby deepening audience engagement.

The partnership also aligns with Sony’s recent acquisition of the Alamo Drafthouse theater chain, further underscoring the studio’s commitment to experiential entertainment.

As Cosm continues to open new sites and refine its shared‑reality format, the collaboration with Sony positions both companies to capitalize on growing consumer demand for immersive, high‑value viewing experiences.

The next few years will likely see a surge in additional venues and expanded use of Sony’s expansive IP catalog within these cutting‑edge spaces.