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

Just recently at the Game Developers Conference, Meta gave us a glimpse into the current status of its Quest marketplace. An interesting tidbit shared was that the content on the Quest store has managed to pull in “over $2 billion.” If this sum rings a bell, it should—Meta shared this exact figure more than a year back.

Since Quest’s debut in 2019, developer earnings showed promising stretches of growth, especially during the reign of the Quest 2. However, the past couple of years have witnessed a slowdown in revenue growth from the store.

Meta has occasionally celebrated new financial landmarks for the store, such as when it mentioned hitting the $2 billion mark back in September 2023. Fast forward, and over a year and a half later, we find the same figure being rolled out in their recent market update.

This repetition leads us to reasonably infer that the $3 billion goal remains out of reach—for now, at least. It’s fair to speculate that total revenues on the Quest platform probably hover shy of $3 billion by March 2025—maybe around $2.9 billion if we take a guess.

Based on these assumptions, revisiting the timeline of the Quest store’s revenue milestones reveals that after a robust jump in monthly store revenue during the Quest 2’s peak, growth has somewhat flattened with the arrival of Quest 3 and Quest 3S.

In the same marketplace update, Meta briefly touched on a couple of additional statistics, though details were sparse:

– Total payments rose by roughly 12% in 2024.
– Consumers spent 30% more time in VR each month in 2024 compared to the prior year.

When Road to VR reached out to Meta seeking further clarification on the persistent “$2 billion” figure touted both in 2023 and 2025, Meta remained silent.

The chart above provides a deeper context. Notably, Quest 2’s launch happened in October 2020, amidst COVID lockdowns when people desperately sought new entertainment and connection avenues. It was priced appealingly at $300, making it a sought-after gift, notably cheaper than its predecessor.

In contrast, Quest 3 stepped onto the scene in October 2023, bearing a hefty $500 price tag. Meta positioned it around its ‘mixed reality’ capabilities, which weren’t quite ready or an obvious value proposition at launch.

Seeing the pricier Quest 3 stumble compared to the more accessible Quest 2, Meta launched Quest 3S in October 2024, going back to the $300 price point. They also slashed the price of the 512GB Quest 3 model from $650 to $500.

With only about six months passing since the Quest 3S launch and the price cut of Quest 3, it will take more time to gauge if these shifts sway spending trends on the Quest platform. Not to forget, new tariffs introduced by the Trump administration could potentially disrupt Meta’s freshly minted pricing strategy.

Beyond headset prices and value, Meta recently peeled back the curtain on shifting user demographics and spending patterns reshaping the Quest store’s landscape. The company notes that the influx of newer, younger users is fueling a demand shift towards free-to-play content over premium offerings.