XR is a games studio based in Leeds, specialising in developing virtual reality (VR) games. They made their first major title, Angry Birds The Movie 2 VR: Under Pressure under license with Sony Pictures and Rovio, and released it to critical acclaim earlier this year.
The video games market is a multi-billion-pound industry. In 2018 the global market for video games was estimated to be worth $135bn, seeing 11% year on year growth. The console gaming market alone was estimated to be worth $40bn. To put this in context, it is bigger than the music and movie markets combined.
Given where XR is in its lifecycle, we have been very impressed with the calibre of studios, IP and brands that they have been able to attract to the table. Our investment and support will enable XR Games to increase its capacity for work-for-hire contracts and expand its team in Leeds.