Tag: steady

During the recent Game Developers Conference, Meta provided an update on the state of the Quest marketplace, revealing that content on the Quest store has generated over $2 billion in revenue. Interestingly, this figure remains the same as the one shared over a year ago. Since the launch of the Quest platform in 2019, developer revenue has shown promising growth, particularly during the Quest 2 era. However, in the last two years, revenue growth on the store has slowed down. Meta has previously highlighted new revenue milestones for the store, such as the $2 billion mark mentioned in September 2023. More than a year and a half later, the company reiterated the same figure in a recent update on the Quest marketplace. Based on this information, it can be inferred that the $3 billion milestone has not been reached yet. Therefore, it is likely that the total revenue from content sold on the Quest platform is just under $3 billion as of March 2025—let's estimate it at $2.9 billion. With this assumption, we can track the revenue milestones of the Quest store and observe that growth has plateaued in the era of Quest 3 and Quest 3S after significant growth during the Quest 2 era. In the same update on the state of the Quest marketplace, Meta shared some additional metrics without providing detailed information: "[…] total payments were up about 12% in 2024." "[…] customers spent 30% more monthly time in VR in 2024 than the previous year." Despite requests for more context on the "over $2 billion" figure, Meta did not respond to Road to VR's inquiries. When analyzing the chart above, it is essential to consider some key factors. Quest 2 was launched in October 2020 during the height of COVID lockdowns, offering a new form of entertainment and connectivity for people stuck indoors. It was also priced attractively at $300, making it a popular choice. On the contrary, Quest 3 was released in October 2023 at a higher price point of $500, emphasizing its 'mixed reality' capabilities, which were not fully developed at launch. To address lower adoption rates compared to Quest 2, Meta introduced Quest 3S in October 2024 at the $300 price point and reduced the price of the 512GB Quest 3 model. It has only been six months since the launch of Quest 3S and the price adjustment for Quest 3, so it remains to be seen if these changes will impact spending on the Quest platform. Additionally, new tariffs imposed by the Trump administration could disrupt Meta's pricing strategy. Aside from headset pricing, Meta has also disclosed a shift in user demographics and spending habits, with younger users driving a higher demand for free-to-play content over premium offerings, altering the landscape of the Quest store.

Tag: steady

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