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Sony Invests $100 Million in Cosm for Roughly 10 Percent Stake
Sony committed $100 million to the El Segundo-based operator of large immersive venues. The transaction values Cosm at $1 billion and grants Sony Pictures Entertainment chairman Ravi Ahuja a board seat.
Jun 24, 2:57 PM·1m read2 sources
Los Angeles TimesAudio version
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Sony announced a $100 million investment in Cosm, the operator of immersive venues. The deal gives Sony an approximately 10 percent ownership stake based on Cosm's $1 billion valuation from 2024. Ravi Ahuja, chairman and chief executive of Sony Pictures Entertainment, receives a board seat as part of the agreement.
A source close to Sony said Cosm's popularity with sports fans was one of the main attractions and that Ahuja had been interested in the company for more than a year. Cosm charges around $100 per ticket for live sports presentations such as the current World Cup.
It opened its first venue next to SoFi Stadium in 2024, a second location in Dallas later that year, and an Atlanta venue two weeks ago.
The company has also created shared-reality versions of the films The Matrix and Harry Potter. Sony Pictures Entertainment bought Alamo Drafthouse two years earlier. The same source close to Sony said no conversations have taken place regarding a potential Sony deal for IMAX.
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