Meta’s Virtual Reality Meets Facebook’s Harsh Real World
... And the company at least has some positive momentum to build on, given strong sales of its Quest 2 VR headset that launched in late 2020. That device is designed mostly for videogaming and sold nearly 8.8 million units last year—more than the total number of headsets sold by Meta for the previous five years combined, according to estimates by IDC.
But success in VR is a highly relative concept, as even gamers have been lukewarm on the technology. Total revenue from VR games last year was $1.5 billion—less than 3% of the total revenue generated by console games for the year, according to market research firm Newzoo. ...
Mr. Zuckerberg’s vision to bring the metaverse to a billion people is an expensive one; the company has maintained its target of spending up to $34 billion in capital expenditures this year, which is double what it has averaged over the past three years.
So having less money coming in the door is a problem. ...
See the full story here: https://www.wsj.com/articles/facebook-meta-virtual-reality-metaverse-11665087982
