Sony Pictures pours $100 million into Cosm, a giant-screen startup with venues in Dallas and Atlanta, eyeing a rival to Imax and Sphere as Hollywood bets on premium experiences.
Sony Pictures Entertainment is putting $100 million into Cosm, an operator of large-screen theaters that blend movies and live events with a social dining setup. Ravi Ahuja, Sony Pictures’ chief executive, will join Cosm’s board under the pact announced Wednesday.
Cosm opened in 2020 with a concept built around giant curved screens designed to wrap the audience in the action. The venues serve food and offer high-top tables and booths – a deliberate shift away from traditional stadium seating toward a more communal feel. Cosm today runs locations in Hollywood Park, North Dallas, and downtown Atlanta. It plans to open in Detroit this September and in Cleveland early next year, with more U.S. and international sites in the pipeline.
Sony’s investment follows a string of Hollywood bets on premium theater experiences. The studio bought the Alamo Drafthouse chain in 2024, a dine-in movie operator. Sphere Entertainment Co., which spent more than $2 billion on a Las Vegas dome with a wraparound screen, has drawn crowds for U2 concerts and film runs. Imax Corp., which licenses its large-format technology to multiplexes, has seen its stock climb on record global box-office revenue.
Cosm already has content partnerships with big studios and sports leagues. Comcast’s NBCUniversal unit struck a deal to show Premier League soccer and Big Ten football at Cosm’s Los Angeles and Dallas venues. The screens have also carried Warner Bros. Discovery films including The Matrix and Willy Wonka & the Chocolate Factory.
Comcast, whose NBCUniversal unit has a content deal with Cosm, carries an Alpha Score of 49 out of 100 at AlphaScala, labeled Mixed. Warner Bros. Discovery scores 44, also Mixed. Both sit in the communication services sector. The investment by Sony, a unit of Japan’s Sony Group, adds another major studio to Cosm’s backers.
Cosm, led by CEO Jeb Terry and based in Los Angeles, raised $250 million in 2024 from investors including Cleveland Cavaliers owner Dan Gilbert and financier Marc Lasry.
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