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SpringboardVR’s Festa is bullish on LBE despite coronavirus

April 10, 2020

While more than three quarters of location based entertainment operations have closed temporarily, 84% of SpringboardVR's partners are planning on being open for business when the coast is clear, according to a survey conducted by SpringboardVR.

In an open letter to the LBE community, Michael Festa, chief business officer, said that while COVID-19 is a major event for the industry, he sees a lot of hope in the sector. 

The survey indicated that 76.8% of LBEs are temporarily closing, 16.1% are permanently closing and 8.1% are not closing.

Asked what SpringboardVR could do to help, respondents answered the company could waive, defer or reduce subscription fees; waive, defer or reduce commercial licensing fees; or use the time to improve the product. 

Festa noted the company has addressed all three of these approaches which he explained in detail. To access the full blog, go to https://springboardvr.com/blog/an-open-letter-to-lbe-vr