VirZOOM plans launch a new version of VZfit for the consumer market called VZfit Home in Q1 2019.
VZfit Home is a package of the VZ Sensor and VZ Button, with VZfit applications available for download from the Oculus Store.
VZfit Home will run VZfit applications on the $199 Oculus Go, and a new $399 mobile mobile VR platform coming soon. The combination will work with any stationary bike, it’s small and easy to move from bike to bike, and it sets up in minutes.
VZfit Home is easy to take to the health club, to work to use at the campus fitness center, or with you on a trip, to use at a hotel fitness center.
VZfit Home will sell online for $99, with a $14.95/month membership for the VZfit applications and regular updates.
VZfit Home delivers approximately 80% of the content quality of the VZfit Fitness Centers applications. However, not all of the worlds and levels available on VZfit Fitness Centers will be available on VZfit Home initially.
Total System Cost Scenarios ($14.95/month membership additional)
- If a customer is buying a stationary bike from Amazon that’s suitable for VZfit Home: $149 Bike + Oculus Go $199 + VZfit Home = $437 – total for a complete VR exercise system
- If a customer has a stationary bike and is buying Oculus Go: Add Oculus Go $199 + VZfit Home = $298
- If a customer has a stationary bike and Oculus Go, and is buying VZfit Home: Add VZfit for $99
Statistics and Estimates
- Estimated installed base of home stationary bikes that are suitable for VZfit Home: 30 million Worldwide (12% of 247 million households of VZ Bike buying countries worldwide)
- Oculus Go units shipped in 2018: 1.8 million worldwide
- The new mobile VR platform 2019 unit shipment forecast: (est.) 1 million worldwide
- Estimated total available installed base market for VZfit Home by the end of 2019 (consumers that have both a stationary bike and Mobile VR for VZfit Home): 336,000 worldwide (12% of Mobile VR for VZfit Home worldwide)
Our previous consumer product, the 4x more-expensive VZ Bike, sold over 400 units Q4 2017. We are optimistic that VZfit home, with its lower price and convenience improvements over VZ Bike (portability and no assembly), will sell at a significantly higher volume. We are withholding volume shipment forecasts until the end of Q2 2019 after we establish an early sales run rate.
If VirZOOM is able to reach 5% of the estimated 336,000 target bike + VR installed base or 16,800 consumers by the end of 2019 then $1.9M in VZfit revenue ($99 + 1st month 14.95 membership) and $250,000 in monthly recurring revenue will be generated.
We plan to begin taking pre-orders shorty.
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