nDreams is a developer and publisher of content for VR platforms. It creates and publishes its own experiences and games, and develops for strategic third parties.
Mercia first invested in nDreams in March 2014 through its managed funds and it was held in the managed funds portfolio for approximately one year. The company is now known as one of the UK’s leading developers and publishers of VR content and was one of the first to enter the VR games market.
nDreams launched two major titles in the year, the award-winning brawler, Bloody Zombies, which released on five different platforms (both VR and non-VR) and Shooty Fruity, the highest rated VR shooter ever launched on console and which has received a positive reaction from both critics and consumers.
Alongside its own games, nDreams has developed projects for several third parties, including Google, Microsoft, a large VR arcade company, and a major entertainment company. These high-profile partnerships demonstrate the industry’s confidence in the design and production quality of nDreams’ experiences and games, and the company has continued to build stronger relationships with all the leading VR headset manufacturers. There are an increasing number of potential partner discussions occurring as nDreams builds its high-end B2B pipeline alongside its consumer titles.
As well as creating VR games for consumers, nDreams has expanded into the fast-growing VR location-based entertainment (LBE) market and completed a major title for VR arcades during the financial year. This title has not yet been announced but it is expected to be revealed in summer 2018.
nDreams is recognised by many as one of the market leaders as a result of its strong management team. Vice president of development Tom Gillo has over 20 years’ development experience in the industry and was formerly game director at Sony Entertainment Europe. David Corless, the vice president of publishing, previously held roles as global brand director and head of marketing at SEGA. In addition, the company has hired Martin Prendergast, an experienced COO from outside the games industry, and business development director Steve Tagger, who is leading its growing sales and business development team.
nDreams has now sold more than 320,000 VR experiences and games, and has generated over £3.0million in VR revenue to date. Total revenue for the 2017/18 financial year grew by over 50% on the previous year.
The VR consumer market continues to expand, although not as fast as many had predicted. Sales of high-end VR headsets picked up in the last quarter of 2017 as prices dropped to more affordable levels. The VR market is set to expand faster in the 2018/19 financial year with the launch of several new ‘standalone’ headsets that require no PC, console or phone, such as the Oculus Go, Vive Focus and Oculus Santa Cruz. Having established close relationships with some of the biggest names in the digital world, nDreams is at the forefront of the expanding VR market and has the potential to be a highly valuable business.