With a fast-growing culture of shorter, TV-oriented shows and movies, the traditional idea of going to a cinema to watch a 2-hour long film is becoming increasingly obsolete.

The notion that conventional movie theatre culture is becoming a dying breed is reflected in the markets as well. Labor Day weekend has historically been a prosperous time for cinemas, usually grossing over $100 million in box office sales. However, this summer came in way under the bar, with the box office barely breaking $75 million.

Yet, the VR Hollywood Startup Dreamscape Immersive seems to have found a way to salvage movie-going culture in an innovative fashion.

Dreamscape has been pouring its efforts into establishing what it calls a "virtual-reality multiplex," which will replace traditional cineplexes to showcase an array of unique VR experiences instead of normal movies. The technology has the capacity to enable six people to engage in the VR experience at a time, where they can observe each other's avatars using different cameras and sensors.

Jumping at an opportunity to revive its dwindling market share after losing half its market value this summer, AMC (AMC  ) has invested $20 million in Dreamscape in addition to agreeing to finance its future expansion. Dreamscape's roster of influential investors also entails Steven Spielberg, 21st Century Fox (FOXA  ) , Metro-Goldwyn-Mayer (MGMB  ) and Warner Bros (TWX  ).

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"We were mesmerized by what we saw," said Adam Aron, chief executive of AMC Entertainment. "Their vision is to change what V.R. has been, away from just a heightened level of video game and toward cinematic storytelling, and we think it's what consumers have been waiting for."

The initial model Dreamscape is going for does not include integrating the VR experience into existing films; it simply entails consumers being able to purchase an individual ticket for an independent VR experience that will be available in 6 new locations across the U.S. and U.K. in addition to operating in some normal AMC theaters. The main location is said to be at the Westfield Century City Mall in Los Angeles.

Interestingly, this is one of the first instances of VR tech being mass adopted, much to the surprise of analysts who predicted that virtual reality would take the mass market by storm. Sales of VR hardware are reportedly 40% below forecasts, CCS Insight said in a report. This could mean one of two things: either Dreamscape has really got it right and sailed ahead in waters others are too afraid to navigate or it has taken on too much for its own good and will drown.

Either way, with a team that includes Bruce Vaughn, Walt Disney Co.'s (DIS  ) former Imagineering creative division head, composer Hans Zimmer and Tom Staggs, Dreamscape really does have all its pieces in place. What's left to see is whether the public is ready to take the first step towards transitioning out of traditional cinema, or whether nostalgia will grip them a little too late.