Meta’s Oculus Quest store rakes in $1bn in VR revenue
Meta has announced that its Oculus Quest store has earned the company over $1 billion in revenue, following a push towards VR and Metaverse related tech. According to its Q4, 2021 earnings report, spending on the storefront has quadrupled, jumping from a monthly average of $12 million to $51.3 million USD in comparison to 2020.
The social media giant didn't break down its impressive store revenue, but the value likely comprises standalone VR games and cross-buy Oculus PC game purchases. The earnings bump is also a testament to the success of the Oculus Quest 2, as the Meta only raked in $150 million prior to its best VR headset's arrival.
Just last week, Facebook's parent company announced that it's replacing its Oculus branding with a new Meta Quest moniker to better suit its metaverse ambitions. This could mean the Oculus Quest 3 will drop its placeholder name and kickstart a new linage, while its mixed reality Project Cambria device will distance itself from the VR gaming brand.
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