To cater to diverse demands, the team launched the premium Lounge M experienc

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Comparing the data, the operation team also found that year-on-year revenue beyond ticketing has grown substantially, particularly the tremendous market potential for integrated cultural, commercial and tourism offerings.

China's immersive entertainment industry is experiencing explosive growth and innovation. By late 2023, the domestic market had 32,024 immersive experience projects, with a consumer market size of 92.7 billion yuan, according to the China Immersive Industry Report 2024 by the industry's observing platform illuthion.com.

Within this boom, SMG Live has evolved from single revenue streams to a new retail theater model centered around Sleep No More Shanghai as its pilot case. Based on the IP, it expands into merchandise licensing, venue partnerships and integration across related consumer verticals, which is also applied to SMG's other original IPs.

As an imported IP adapted with Chinese cultural elements and Shanghai's heritage influences, Sleep No More Shanghai imbues a distinctive Eastern aesthetic compared to the London and New York versions.

On Chinese online travel agency Ctrip's overseas platform, the show covers 39 countries and regions and supports 24 languages and 35 currencies to facilitate international audiences. Ctrip bookings surged 120 percent year-on-year since the show's overseas listing, with over 60.5 percent coming from abroad.