5 ms·

Metaverse division revenue: $339M vs est. $613.1M

by almog 3y ago

realce 3y ago
How do they even make 339m? I've never heard of a single person interacting with the Meta-brand metaverse.
- baby 3y ago
  The Quest headsets are pretty popular. Not a billion dollar market yet though.
- dbg31415 3y ago
  Real estate sales of unused office space? I kid, I kid.
- tootie 3y ago
  I assume it's Quest sales. Devices and apps.
- deleted 3y ago
  [deleted]
- deleted 3y ago
  [deleted]
- smoldesu 3y ago
  The Meta Quest has an install base of 10,000,000+ users, along with surprisingly high-profile software releases (I think Resident Evil 4's VR remake was this year). It's not a blockbuster industry quite yet, but something's happening. If nothing else, releasing a bunch of digital VR content isn't untenable for a FAANG business.
  - dougmwne 3y ago
    It’s at about 20 million now. I’ve seen estimates that about 1/3 are MAU.
  - baby 3y ago
    There’s a reason why Sony and Microsoft still have a console
    - smoldesu 3y ago
      And a reason why Sony didn't leave PSVR stranded on PS4.
- Kirby64 3y ago
  This includes Oculus hardware. Even without any metaverse nonsense, VR sales are presumably still somewhat strong. That would be only 339k sales of the Quest Pro, or 848k sales of the Quest 2. Not an insane amount.
  - realce 3y ago
    Ah I see, thanks.
- qwytw 3y ago
  Didn't they keep the Oculus brand on most VR equipment till last year?
time_to_smile 3y ago
Metaverse has already been deprioritized, and Meta is shifting to generative AI [0]. I was always a huge skeptic of the Metaverse conceptually, but it was a moonshot project (and I'll be the first to admit, skeptics are often proven wrong with moonshots). The problem is you can never have a successful moonshot if it can't survive a few bad quarters. I mean the actual Apollo program took 8 years to achieve its goal of getting humans on the moon. 0. https://qz.com/meta-layoffs-2023-jobs-metaverse-ai-1850196575 https://qz.com/meta-layoffs-2023-jobs-metaverse-ai-185019657...
- qwytw 3y ago
  The Apollo program had a fairly specific goal. I still don't believe anyone can coherently explain what the Metaverse and it's purpose are supposed to be
  - time_to_smile 3y ago
    oh I fully agree. I'm just pointing out that even the defining example of "moonshot" took some serious dedication of resources and time. What's really wild is that the entire Apollo program cost ~$25 Billion in 1973 (of course est. $163 billion today) while Meta already spent $36 Billion on the Metaverse [0]. 0. https://www.businessinsider.com/meta-lost-30-billion-on-metaverse-rivals-spent-far-less-2022-10 https://www.businessinsider.com/meta-lost-30-billion-on-meta...
  - baby 3y ago
    Really? It’s pretty simple really, at least if you’ve tried VR before. The vision is that you can play with people, hang out with your friends, and go to live concerts in VR. They can get there if they manage to achieve: * a cheaper device so that every household can have one (think printer) * less friction to use (lighter, faster start, no need to setup guardian and tracking) * longer battery * better experiences to hangout with people I think anyone could be convinced of that if they tried like, playing Catan in VR with strangers (it’s mind blowing)
    - qwytw 3y ago

Metaverse division revenue: $339M vs est. $613.1M

by almog 3y ago

Metaverse division revenue: $339M vs est. $613.1M

realce 3y ago

How do they even make 339m? I've never heard of a single person interacting with the Meta-brand metaverse.

baby 3y ago
The Quest headsets are pretty popular. Not a billion dollar market yet though.
dbg31415 3y ago
Real estate sales of unused office space? I kid, I kid.
tootie 3y ago
I assume it's Quest sales. Devices and apps.
deleted 3y ago
[deleted]
deleted 3y ago
[deleted]
smoldesu 3y ago
The Meta Quest has an install base of 10,000,000+ users, along with surprisingly high-profile software releases (I think Resident Evil 4's VR remake was this year). It's not a blockbuster industry quite yet, but something's happening. If nothing else, releasing a bunch of digital VR content isn't untenable for a FAANG business.
- dougmwne 3y ago
  It’s at about 20 million now. I’ve seen estimates that about 1/3 are MAU.
- baby 3y ago
  There’s a reason why Sony and Microsoft still have a console
  - smoldesu 3y ago
    And a reason why Sony didn't leave PSVR stranded on PS4.
Kirby64 3y ago
This includes Oculus hardware. Even without any metaverse nonsense, VR sales are presumably still somewhat strong. That would be only 339k sales of the Quest Pro, or 848k sales of the Quest 2. Not an insane amount.
- realce 3y ago
  Ah I see, thanks.
qwytw 3y ago
Didn't they keep the Oculus brand on most VR equipment till last year?

time_to_smile 3y ago

Metaverse has already been deprioritized, and Meta is shifting to generative AI [0]. I was always a huge skeptic of the Metaverse conceptually, but it was a moonshot project (and I'll be the first to admit, skeptics are often proven wrong with moonshots). The problem is you can never have a successful moonshot if it can't survive a few bad quarters. I mean the actual Apollo program took 8 years to achieve its goal of getting humans on the moon. 0. https://qz.com/meta-layoffs-2023-jobs-metaverse-ai-1850196575 https://qz.com/meta-layoffs-2023-jobs-metaverse-ai-185019657...

qwytw 3y ago
The Apollo program had a fairly specific goal. I still don't believe anyone can coherently explain what the Metaverse and it's purpose are supposed to be
- time_to_smile 3y ago
  oh I fully agree. I'm just pointing out that even the defining example of "moonshot" took some serious dedication of resources and time. What's really wild is that the entire Apollo program cost ~$25 Billion in 1973 (of course est. $163 billion today) while Meta already spent $36 Billion on the Metaverse [0]. 0. https://www.businessinsider.com/meta-lost-30-billion-on-metaverse-rivals-spent-far-less-2022-10 https://www.businessinsider.com/meta-lost-30-billion-on-meta...
- baby 3y ago
  Really? It’s pretty simple really, at least if you’ve tried VR before. The vision is that you can play with people, hang out with your friends, and go to live concerts in VR. They can get there if they manage to achieve: * a cheaper device so that every household can have one (think printer) * less friction to use (lighter, faster start, no need to setup guardian and tracking) * longer battery * better experiences to hangout with people I think anyone could be convinced of that if they tried like, playing Catan in VR with strangers (it’s mind blowing)
  - qwytw 3y ago