VR Industry

VR Industry

Meta Has Sold Nearly 20 Million Quest Headsets, But Retention Struggles Remain

Meta has sold nearly 20 million Quest headsets, but the company continues to struggle with keeping customer using VR. According to a report by The Verge, citing an internal Meta presentation held today, the company has sold nearly 20 million Quest...

Meta Affirms Plans for Quest 3 Launch This Year, Despite Layoffs and Focus on “Efficiency”

Despite major layoffs from Meta, the company has affirmed that its next-gen consumer headset, Quest 3, is planned for release this year. While it will adopt some of the features from Quest Pro, not all will make the leap. In...

Meta Reality Labs Earnings Reveal a Less Successful Holiday Season & Highest Operating Costs Yet

Meta today revealed its latest quarterly earnings results, showing that Reality Labs, the company's XR and metaverse arm, had a smaller holiday season than the last, while operating costs have reached their highest levels yet. Today during the company's Q4...

2022 Was a Plateau Year for VR, Here’s What to Expect in 2023

The end of 2022 marks more than a decade since the Oculus Kickstarter sparked the modern era of VR. While the space has undoubtedly grown tremendously since then, 2022 felt largely like a plateau year, with Meta standing unchallenged...

Meta Reality Labs Latest Revenue & Operating Cost Figures Aren’t Going to Make Investors Happy

In Meta's most recent quarterly earnings call the company shared the latest revenue figures of Reality Labs, the company's XR division. In the third quarter of the year the division hit new milestones... unfortunately not the kind investors like...

Quest Store Surpasses $1.5 Billion in Content Revenue, Showing Continued Growth

At Connect 2022 this month, Meta announced the Quest content store has surpassed $1.5 billion in purchased VR content since its launch in 2019, representing continued but decelerating growth likely due mostly to market seasonality. Update (October 18th, 2022): Article...

Valve Corrects Steam Survey Data Revealing Latest VR Population Growth

Valve this week updated its monthly Steam Hardware & Software Survey to fix issues resulting in anomalous VR population data. The corrected figures return the survey to being one of the most useful pieces of public data about the...

Varjo Raises $40M Series D Funding to Expand Cloud-based XR Platform

Varjo, maker of high-end enterprise XR headsets, this week announced it has raised a $40 million Series D investment to continue building its Varjo Reality Cloud software and deliver a "true-to-life industrial metaverse." Varjo makes some of the highest-end enterprise...

Meta & Qualcomm Join “Multi-year” XR Chip Partnership to Combat a Common Threat

Two of the biggest names in XR—headset maker Meta and chip maker Qualcomm—today announced a "multi-year broad strategic agreement" to collaborate on "customized virtual reality chipsets" for future devices. Qualcomm, a leading provider of smartphone processors, was an early mover...

Meta’s PC VR Dominance Continues as Quest 2 Passes New Milestone

Quest 2 quickly rose to become the most-used VR headset on Steam, but last month it crossed a new milestone as the majority of headsets used on the platform. Quest 2's aggressive price point and ability to be used as...

Meta Says New Prototype Will Put Its Cutting-edge R&D in a Market-viable Headset

Back in June Meta revealed its latest XR R&D efforts through a handful of different prototypes designed to prove out various concepts. The next step, the company says, is to bring it all together into a single package that...

FTC Sues to Block Meta’s Acquisition of Top VR Fitness App Developer

In 2021 Meta announced its intention to acquire Within, the studio behind popular VR fitness app Supernatural; though neither company announced the deal price, reporting indicated a whopping $400 million price tag which may have caught the attention of...

Meta Raises Quest 2 Price to Stave off Growing Costs

Meta announced today something that we haven't previously seen happen in the middle of a VR headset's lifecycle—a price increase for Quest 2. To soften the blow, the company says it will include a free copy of the headset's...

‘Ultrawings 2′ Has ’10x More Sales’ on Quest, Developer Says, Despite Design Focus on PC VR

In a seemingly unprompted tweet this week, Ultrawings 2 developer Bit Planet Games said that despite building its latest game with a focus on the PC VR platform, the studio has seen significantly more sales volume on Quest 2. Adding...

The 20 Best Rated & Most Popular Quest Games & Apps – July 2022

While Oculus doesn’t offer much publicly in the way of understanding how well individual games & apps are performing across its Quest 2 storefront, it’s possible to glean some insight by looking at apps relative to each other. Here’s...
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