spatialcomputing.info

Last month at the annual Game Developers Conference, Meta offered an update to the state of the Quest marketplace. Included in that update was mention that content on the Quest store has earned “over $2 billion.” If that figure sounds familiar, that’s because… it’s the same figure the company shared more than a year ago.

Since the launch of the Quest platform in 2019, overall revenue earned by developers showed promising growth through the Quest 2 era. But in the last two years, revenue on the store growth has slowed.

Meta has occasionally called out new revenue milestones for the store, like the $2 billion figure it gave in September 2023. More than a year and a half later, the company cited the same $2 billion figure in a recent update on the state of the Quest marketplace.

We can reasonably assume this means the $3 billion milestone has yet to be crossed (otherwise Meta would surely have shared that number instead). Thus, the most charitable interpretation is that the total revenue  of content sold on the Quest platform is just under $3 billion as of March 2025—let’s call it $2.9 billion.

Using this assumption, we can update our tracking of the Quest store’s revenue milestones. We can see that after significant growth of average monthly store revenue in the Quest 2 era, growth has largely plateaued in the era of Quest 3 and Quest 3S.

In the same update on the state of the Quest marketplace, Meta mentioned some additional metrics, but without much detail:

• “[…] total payments were up about 12% in 2024.”
• “[…] customers spent 30% more monthly time in VR in 2024 than the previous year.”

Meta did not reply to requests from Road to VR asking to provide more context on the “over $2 billion” figure that was stated in both 2023 and 2025.

Looking at the chart above, it’s important to remember some key context. Quest 2 launched in October of 2020 as COVID lockdowns were in full swing and people were looking for new ways to stay entertained and connected while stuck inside. It also launched at an attractive and giftable $300 price point (which was $100 cheaper than its predecessor).

Quest 3, on the other hand, launched in October 2023 at a more premium price of $500. The company heavily marketed its ‘mixed reality’ capabilities, which were far from mature or a clear value-add at launch.

Seemingly finding that the more expensive Quest 3 wasn’t seeing as much uptake as the more affordable Quest 2, Meta went on to release Quest 3S in October 2024 (returning to the $300 price point). It also permanently dropped the price of the larger 512GB model of Quest 3 from $650 down to $500.

It’s only been about six months since both the launch of Quest 3S and the price drop on Quest 3, so we’ll need to wait longer to see if these changes will alter the growth trajectory of spending on the Quest platform. Granted, new tariffs imposed by the Trump administration could upend Meta’s new pricing strategy.

Outside of the price and value proposition of its headsets, Meta also recently opened up about a significant shift in user demographics and spending habits which have changed the landscape of the Quest store. According to the company, newer and younger users are driving greater demand for free-to-play content over premium content.