Meta’s Recent Quest Store Revenue Reveals a Stable Yet Unchanging Market

A few weeks back at the Game Developers Conference, Meta shared some insights into the Quest store’s current performance. However, the news wasn’t exactly groundbreaking. They revealed that the content on their store has collectively pulled in over $2 billion, a figure they first mentioned more than a year ago.

When the Quest platform debuted in 2019, it showed promising revenue increases, particularly during the era of Quest 2. But it appears that the upward trend has somewhat slowed over the past couple of years. Meta has sporadically announced revenue achievements for the store, for instance, the $2 billion figure back in September 2023. Fast forward more than eighteen months, and they’re still referencing that same number.

One can reasonably deduce that the elusive $3 billion milestone is still out of reach—or Meta would likely have highlighted it by now. It seems plausible, then, to infer that the total revenue from Quest content is nearing, but hasn’t quite hit, $3 billion by March 2025. Perhaps it’s sitting closer to $2.9 billion.

Taking this into account, we need to consider the revenue plateaus seen in this timeline. While the Quest 2 period showcased substantial revenue growth each month, things have leveled out with the advent of Quest 3 and Quest 3S.

In the same briefing, Meta shared additional statistics, albeit sparingly:

– There was a 12% increase in total payments during 2024.
– Customers spent 30% more time each month in virtual reality in 2024 compared to the previous year.

Road to VR requested more clarity on the persistent “over $2 billion” figure announced in both 2023 and 2025, but Meta has not yet responded.

Examining the data, it’s crucial to remember the context when Quest 2 was released in October 2020. The COVID-19 lockdowns prompted many to seek entertainment and connection through new means. With a starting price of $300, it was not only accessible but also made for an appealing gift option—being $100 less expensive than its predecessor.

In contrast, Quest 3 entered the market in October 2023 with a heftier price tag of $500. Though it boasted ‘mixed reality’ features, they weren’t fully developed or compelling enough at launch. Observing that Quest 3’s higher cost didn’t attract the same enthusiasm, Meta responded by releasing the Quest 3S in October 2024, reverting to the $300 price point. They also reduced the price of the 512GB Quest 3 model from $650 to $500.

It’s been around six months since both the Quest 3S’s launch and the price cut for the Quest 3. Thus, it may take more time to determine if these adjustments will impact spending on the Quest platform. There is also the matter of potential shifts in strategy, as new tariffs introduced by the Trump administration might disrupt Meta’s pricing plans.

Beyond the pricing tactics, Meta has been open about changing user demographics and spending behaviors, which are reshaping the Quest store landscape. Younger cohorts of users, in particular, are pushing for more free-to-play options over premium content.