viewVR Education Holdings PLC

VR Education’s Titanic experience to launch on PlayStation at end of month

“Importantly, the release will occur in the current financial year and will allow Titanic VR to have exposure on this major platform over the Christmas trading period”

VRE expects a large chunk of Titanic VR’s revenues to be generated through the PlayStation platform

VR Education Holdings Plc (LON:VRE) is to launch its Titanic VR virtual reality experience on the PlayStation platform on November 22.

The experience, which puts users on the famous liner on the night of its sinking, is already available on PC, Oculus Rift, HTC Vive and Windows Mixed Reality.

READ: Unexpected delay in release of VRE's Titanic experience

But VR Education has been waiting for Titanic VR to launch on PlayStation, which it expects will generate “a significant percentage” of the experience’s sales, as was the case with Apollo 11 VR.

“As previously announced, the PlayStation onboarding process for Titanic VR took longer than we originally expected, however, we are pleased to have received this confirmation from them,” said chief executive David Whelan.

“Importantly, the release will occur in the current financial year and will allow Titanic VR to have exposure on this major platform over the Christmas trading period. We will update the market in January 2019 as to the impact that this will have had on our FY-2018 revenues.”

The company’s main focus remains on its ENGAGE virtual learning and training platform, the commercial release of which is “progressing to plan” and is scheduled to occur next month.

Shares surged 13% to 13p at the opening bell on Thursday.

Quick facts: VR Education Holdings PLC

Price: 7.5 GBX

Market: AIM
Market Cap: £14.49 m

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