Meta today announced that the Quest content store has surpassed $1 billion in purchased VR content since its launch in 2019, representing a huge inflection point for the headset.

During today’s Meta earnings call, the company shied away from giving unit sales figures for its Quest 2 headset, but did confirm that the Quest store has surpassed $1 billion in purchased software since the platform launched in 2019.

This milestone represents a huge growth in spending through the Quest store since the last milestone the company shared, more than quadrupling average monthly store revenue from $12.4 million to $51.3 million.

Meta didn’t offer any detail breaking down the $1 billion figure, but we take it that it includes games, apps, and DLC sold through both the official Quest store and App Lab, and may also include cross-buy titles that were purchased to be played on the Oculus PC platform.

The previous milestone the company shared on this front was $150 million in store revenue, and this was just prior to the launch of Quest 2 in 2020, which means this latest milestone shows us very clearly the impact that the company’s latest headset has had since launch.

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While Meta has never officially confirmed the number of headsets it has sold, Qualcomm (a key component supplier for the headset) recently estimated the figure to be in the 10 million unit range.

Meta has priced Quest 2 aggressively, very likely subsidizing the headset to the point of losing money on each unit sold. But the goal, the company says, has been to create a self-sustaining ecosystem for developers. It’s not clear when that threshold will be reached, but the growing amount of money being spent in the headset’s store is surely a good sign.

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  • If they haven’t said 10M units sold, it means that they are not there yet

    • Blaexe

      I think that magical threshold of 10m units sold is a misunderstanding in general. When Zuckerberg mentioned that at Connect, he meant 10m active users.

      Obviously sold units that are not getting used are not worth anything. They’ll probably have to sell far more than 10m units to get 10m monthly active users.

    • Christian Schildwaechter

      We are somewhat fixated on that 10mn units number, as Zuckerberg declared it the minimum number of users for a self sustaining platform, but I’m not sure they would announce reaching it. For one he was referring to people being active and and purchasing on the platform, not units sold. With estimates on active users it looks like retention rate on Quest might still be low, with only about 1/3 of all users still active after a few months, so even 10mn units sold could mean only 3.3mn active users, still far from what he suggested as required.

      They have avoided giving absolute numbers so far, most likely to somewhat hide how little money they actually make back from their VR investments. With USD 850mn store revenue since the Quest 2 launch and 30% of that going to Meta, 10mn units sold would mean USD 85 software sales for every heavily subsidized USD 300+ Quest, USD 25.5 would have went to Meta. Less when you include Quest 1. These numbers are pretty bad, esp. compared to other consoles like Playstation or Switch, so they may prefer to stick to their policy of minimal disclosure.

    • namekuseijin

      if we look at amazon videogame best sellers, Quest 2 has been in the top positions since at least october last year, it’s alone there as hardware – atop it only cards, well below you see switch and down there an xbox series S. neither PS5 or xbox series X are to be found.

      Number of ratings users gave to Quest 2 there is more than 20k, more than double than that of series S, which launched roughly around the same time and a bit cheaper but is not a true nextgen console.

      I’d say Quest 2 is around the 10 million mark already. Popular games like Pop1, Onward, Blade and Sorcery and of course Beat Saber all have above 10k ratings in the Quest store. I remember a time when I checked RE7 on PS4 store and it was around 8k ratings, long after launch.

      so, summing up, I think it’s a VR console getting indeed console-like player engagement. I can see it eventually reaching 30 million or so, a true hallmark in stark contrast for “socially-depriving, gimmicky VR” days of old… psvr2 will still be sold as a (expensive) accessory for PS5, may well not get such traction

      that of course, if Meta stock doesn’t keep falling and Zuck just closes or sell the thing and go live a luxury life in his real metamansion

      • Christian Schildwaechter

        I’d say Quest 2 is around the 10 million mark already.

        I’d actually agree, but your argument isn’t one. Quest 2 selling more often/ranking higher on Amazon than two consoles that are so supply constrained that they are always sold out isn’t a sign that the Quest is more popular, quite the opposite. It never sells out, not even during its main sales period around Christmas. If you want a comparison how popular these devices are, compare the prices of sold units on ebay. New 128GB Quest 2 sell for USD 250, used 64GB models for USD 220 and less. PS5 usually sell for USD 650-700.

        There is some speculation that one of the reasons why Quest 2 was such a popular present in Q4 2021 (Black Friday plus Christmas) was simply that the PS5 or Xbox Series X that people actually wanted were unavailable, and people still wanted to give/receive gaming tech as presents. Xbox Series S seems to be much easier to get, but also less popular due to the weaker 4TFLOPS GPU compared to the 12TFLOPS in Series X.

        And the Switch just overtook the Wii as the most popular Nintendo console ever, with 103.5mn Switch vs. 101.5mn Wii. Nintendo sold 10.67mn Switch in Q3 2021 alone, while Sony only sold 3.9mn PS5, because that was all they could produce. I’d be surprised if Meta sold 1mn Quest 2 in Q3 2021, as this was during their summer slump and the quarter with the recall and a one month sales stop. Sales only picked up in Q4 with the release of RE4 and Blade & Sorcery plus the huge wave of Quest 2 as Christmas presents. Comparing ratings on the app stores is difficult, but according to Wikipedia RE7 passed the 10mn sold units mark in October 2021, so it is pretty safe to assume it sold more than any Quest game by a large margin.

        so, summing up, I think it’s a VR console getting indeed console-like player engagement.

        Not really, and not for a while. This article is about software sales. The Quest store generated USD 850mn in the fiscal year 2021. That is about 57mn titles@USD 15 or 42.5mn@USD 20 assumed average price, less if a lot of it was (Beat Saber etc.) DLC. Sony sold 294mn games (retail plus Playstation store with 5000+ titles) during the same time generating an estimated USD 25.5bn (~40% DLC/micro-transactions), 30 times what Meta made. Sony did this despite the PS4 being at the end of its life cycle and not being able to produce anywhere near enough PS5. If Sony could match the demand for PS5 in the same way that Meta can match the demand for Quest 2, their distance would be even larger.

    • JonnyBoy

      They sold 8.7M units in 2021. 14.8M Units as of may 2022. Q1-22 Quest 2 revenue was up 242% yoy. Quest 2 is on it’s way to becoming mainstream.

  • Rogue Transfer

    When factoring significant Portal & less so Ray Ban glasses sales revenue(Portal went up 10x in sales early last year due to the pandemic driving sales), plus accessories off the released revenue figures here, we can see that the Qualcomm claims of 10 million(that they later retracted saying it was third-party analyst guesses) were wild of the mark. The actual Quest 2 units sold is significantly less.

    There’s no avoiding that fact now. The question remains though, by how much, that’s much more difficult to pin down. It could be a lot less or a few million less. It’d be interesting to dive into that deeper, looking into past reports from Facebook on Portal’s dramatic increased success last year. And whether that, was sustained or not and how well did Ray Ban glasses do, plus accessories(Quest elite straps, facial pad packs, etc.) and any other aspects that are included in Reality Labs revenue figures. I’m sure there are other things missed that would reduce the numbers a bit more too, or perhaps by a fair amount. Hard to tell.

    • Blaexe

      Keep in mind Meta makes significantly less revenue per unit than the $299 or $399 retail price (could be half of that, who knows?) so there’s really no way to gauge the number of units sold.

  • namekuseijin

    fun fact about those pictures: Quest is actually getting popular among gamers, not the fitness casual crowds they were expecting. Go look at user ratings for fitness apps and top spot games… it’s always shooters, action games at the top, not minigames and fitness apps (aside from the popular box-chopping sure)

  • kool

    I think the quest 2 might have had its sales peak. It needs to release as much software as it can this year. Cambria will segment the market if it has exclusive games and itll be hard to justify devs the higher cost of the smaller market. I hope cambria brings some kind of vr cloud tech paving the way for aaa mobile vr gaming. That way all future headsets will always be apart of the same ecosystem and wont have to rebuild the userbase every generation.