Meta’s Newest Quest Store Revenue Report Indicates a Stable Yet Flat Market

During last month’s Game Developers Conference, Meta provided some insights into the Quest marketplace, and there’s been a bit of déjà vu with the numbers. They announced that the Quest store has generated “over $2 billion” in content sales—a figure they first mentioned over a year ago.

Since the Quest platform hit the scene in 2019, developer revenues were initially on an upward trend, especially with the introduction of the Quest 2. However, this growth has slowed significantly over the past couple of years.

Meta occasionally highlights new benchmarks, like the $2 billion milestone they touted in September 2023. Fast forward to today, and they’re still referencing that same figure in their latest update about the Quest marketplace.

What this likely indicates is that the next big milestone, perhaps $3 billion, hasn’t been reached yet. Surely, if it had, Meta wouldn’t have missed an opportunity to celebrate that. So, it’s fair to guess that as of March 2025, the total revenue from Quest content sales hovers just shy of $3 billion—let’s say around $2.9 billion.

With this assumption, we can look more closely at the revenue milestones for the Quest store. After some pretty impressive growth during the Quest 2’s time, it seems like things have hit a plateau with the Quest 3 and Quest 3S era.

Interestingly, Meta’s recent update also includes some other stats, though they’re somewhat vague:

– Total payments increased by about 12% in 2024.
– Customers spent 30% more time in VR each month in 2024 compared to the year before.

When Road to VR reached out for more clarity on the repeated “over $2 billion” revenue claim, Meta didn’t offer further explanation.

If you check out the chart above, some context is crucial. The Quest 2 launched in October 2020, right when COVID was keeping everyone indoors and desperate for new forms of entertainment and connection. Priced at a reasonable $300, it was $100 cheaper than the original model—making it a perfect holiday gift.

Fast forward to October 2023 when the Quest 3 dropped. It came with a heftier $500 price tag and boasted ‘mixed reality’ features that hadn’t quite proven their worth just yet.

Noticing that the pricier Quest 3 wasn’t quite flying off the shelves like its predecessor, Meta rolled out the Quest 3S a year later in October 2024, bringing the price back down to $300. They also cut the cost of the larger 512GB Quest 3 from $650 to $500.

We’re only six months into the Quest 3S’s launch and the Quest 3’s price adjustment, so it’s a waiting game to see if these changes will boost spending on the Quest platform. However, new tariffs from the Trump administration might shake up Meta’s pricing plans.

Beyond the headset pricing and its perceived value, Meta also talked about a shift in their user demographics and spending habits, reshaping the Quest store’s landscape. They noticed that a younger audience is showing a stronger preference for free-to-play games over paid premium content.