Sony Pictures Entertainment is making a $100M investment in Cosm and taking a minority stake in the immersive venue operator, which shows live sports in LED dome theaters. The investment leads a larger Series C financing round into the company, according to a source, but a Cosm spokesperson declined to comment when asked for additional details. The size of the stake SPE will take in Cosm was also not disclosed. SPE Chairman & CEO Ravi Ahuja will join Cosm’s board.
Goldman Sachs and Allen & Company advised Cosm on the transaction, its first major influx of capital since raising $250M in mid-2024 in a funding round that valued the company at more than $1B. At the time, Cosm had opened its first immersive venue in L.A. and was preparing the cut the ribbon on its second in Dallas; since, it has opened the latter venue and another of its domes in Atlanta, plus announced forthcoming sites in Detroit (which will open this year) and Cleveland (2027).
The new funding will help Cosm continue to scale its venue network and technology initiatives, which the company’s CEO Jeb Terry hinted at in an interview with SBJ earlier this year. SPE said it will use Cosm to “explore new ways to extend its world-class IP” and “deepen audience engagement.”
