Over the past year, while Quest Store revenue has hit $2 billion, there has been a decrease in its growth rate. - Road to VR
Quest Store Revenue Reaches $2 Billion, But Momentum Has Slowed Over the Last Year
According to a report from Road to VR, Meta announced at Connect 2023 that the Quest Store has generated over $2 billion in revenue from games and apps. However, the report also highlights that revenue has cooled off in the past year. Meta's Head of Developer Relations, Melissa Brown, shared that over 100 new and upgraded titles will be coming to the Quest Store by the end of the year. While the $2 billion revenue figure is impressive, it is overshadowed by Meta's significant spending on its Reality Labs division, which reported a quarterly loss of nearly $4 billion in Q2 2023. The report also notes that Quest Store revenue has slowed down since the launch of the Quest 2 in 2020, with only $500 million generated in the past year. This places more pressure on the upcoming Quest 3 to continue the success of its predecessor. Meta is expected to subsidize its XR hardware to make software sales more appealing and will need to release successful first-party titles to maintain revenue. To read the full story, visit the source at Road to VR. For more updates on Meta's XR developments, visit the main page of Road to VR.
Source: https://www.roadtovr.com/meta-quest-2-billion-revenue-connect-2023/