The Meta Quest store, which originally launched in 2019 and includes various games and apps for the company’s line of VR headsets, has more than quadrupled in revenue over the past three years, according to a former Facebook Meta earnings call. Total sales have surpassed $1 billion since the release of Meta Quest 2 in late 2020, marking a significant increase in the number of people buying VR software.
Still, Meta’s division that develops VR headsets, software and the company’s upcoming AR glasses (formerly Oculus) lost $10.2 billion last year. It took in just $2.3 billion in revenue, including Quest sales and its cut of VR software turnover.
Meta is losing money on every Quest 2 it sells, which may be why those numbers don’t look good, but the company plans to invest at least another $10 billion in the unit over the next few years. Meta’s goal is to lure users into the virtual “metaverse” world the company created in the future, so revenue from hardware sales isn’t its main goal.
Currently, the best-selling games on the Meta Quest store are Zenith: the Last City, Rhythm Lightsaber, and the Vader Immortal bundle. Thanks to the Black Friday sale, a lot of new devices are sure to be sold. Meta’s hardware partner, Qualcomm, said through “third-party market size estimates from industry analysts” that the Quest 2 has shipped about 10 million units since its launch. This may also be the reason why Meta store sales have been so high recently.