Recommend you check out No Proscenium if you’re interested in learning more about immersive experiences. I would argue it’s neither a marketing nor a critical term. It’s a very specific genre, at least when it comes to theatrical experiences.
I’ve been interviewed by No Proscenium! In this case I was specifically referring to the use of “immersive” as a descriptor for video games in the 1980s, not “immersive experiences” as a whole.
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There’s some writing on this, but not a lot. Being able to do full-text search on 1500+ magazine issues will be amazing!