Meta’s New Quest Store Revenue Report Indicates a Stable yet Unchanging Market

Last month, during the annual Game Developers Conference, Meta provided an update that caught the attention of many following the Quest marketplace. It was revealed that content on the Quest store has managed to pull in more than $2 billion. Now, if that number rings a bell, you’re not alone. It’s the same figure Meta proudly announced over a year ago.

Since the Quest platform launched in 2019, it has shown a solid revenue stream, especially during the heyday of Quest 2. However, over the past two years, the impressive growth has started to taper off.

Meta has periodically highlighted new financial achievements for the store, like the $2 billion benchmark mentioned in September 2023. Yet, fast forward nearly two years, and the company is referencing the same figure in its present update on the Quest marketplace.

It seems safe to deduce that the $3 billion mark hasn’t been reached yet—otherwise, Meta would likely tout that milestone instead. If we make an educated guess, the total from Quest content sales might be hovering around $2.9 billion as of March 2025.

This estimate allows us to recalibrate our understanding of the Quest store’s financial milestones. The days of striking revenue growth seen in the Quest 2 era have transitioned to a period of stagnation with the introduction of Quest 3 and Quest 3S.

In the same update, Meta shared some intriguing metrics, though with sparse details:

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

Road to VR inquired about the “over $2 billion” figure mentioned for both 2023 and 2025, but Meta hasn’t provided further context.

Reflecting on the chart above, let’s keep some critical context in mind. The Quest 2 rolled out in October 2020 amidst the COVID lockdowns when many were desperately seeking new avenues for entertainment and social connection. It debuted at a wallet-friendly $300 price point, which was tempting as a gift and notably cheaper than its forerunner.

In contrast, Quest 3 hit the shelves in October 2023 with a heftier $500 price tag. Although it was marketed heavily for its ‘mixed reality’ capabilities, these features were neither fully formed nor a clear selling point at launch.

Realizing the higher price of Quest 3 wasn’t attracting as many buyers as hoped, Meta introduced Quest 3S in October 2024, bringing back the appealing $300 price. Additionally, the price of the 512GB model of Quest 3 dropped from $650 to $500 permanently.

It’s only been around half a year since Quest 3S’s launch and the Quest 3 price reduction, so it will take more time to see if these adjustments will shift spending trends on the Quest platform. That said, new tariffs from the Trump administration might disrupt Meta’s revised pricing tactics.

Beyond the pricing dynamics and what the headsets offer, Meta has shared insights into a major shift in user demographics and spending patterns, reshaping the Quest store landscape. The company points to newer, younger users increasingly opting for free-to-play content over premium alternatives.