Is the Museum of Ice Cream a museum or an attraction? That’s the question we’re going to pose to its business leader today!  

Founded by global lifestyle brand Figure8, the Museum of Ice Cream consists of fully immersive spaces like a pool of rubber sprinkles, a unicorn headed slide and more. 

With locations in Austin, Chicago, New York City and Singapore, the firm calls itself a pioneer in the experience-first industry that helps to rediscover the kid in the young and old. 

But how does the Museum of Ice-Cream define the space in which it operates in as far as its pricing strategy, product pipeline and valuations are concerned? 

Speaking of which, the company’s parent Figure8 was valued at US$200 million in 2019 after receiving US$40m of Series A funding led by consumer venture capital firms including Elizabeth Street Ventures.

But what numbers are we looking at right now, four years down the road? What are some of the firm’s recipes for sustainable revenue growth in the longer term?

In the meantime, Toronto-based company Lighthouse Immersive – which is behind the “Immersive Van Gogh” exhibition – had reportedly filed for Chapter 15 bankruptcy earlier this year. 

What does this suggest about the challenges experiential museum operators face? And are we seeing a consolidation in the industry in the near term? 

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Pirakash T, Head of Revenue & Growth at Museum of Ice Cream.