Meta's VR Division has an operating loss of $2.8 Billion, in Q2, just one quarter

[jehurey 3,228]

https://venturebeat.com/2022/07/27/meta-reports-q2-operating-loss-of-2-8b-for-its-metaverse-division/amp/

 

Meta‘s second-quarter results showed us that Mark Zuckerberg’s vision of the metaverse is still very expensive. And its losses in its VR division hit $2.8 billion in the second quarter, even as its virtual reality hardware and software sales continue to grow.

 

Meta has started breaking out its results from its Reality Labs division, (former known as Facebook’s Oculus division) to give investors a sense of how much it is investing in the next version of the internet, or the metaverse, the universe of virtual worlds that are all interconnected, like in novels such as Snow Crash and Ready Player One.

 

The company signaled some bad news (at least for VR software companies) yesterday when it said it would raise the prices for its Meta Quest 2 VR headsets by $100 each on August 1. It is raising prices for peripheral products too.

 

Meta Reality Labs generated $452 million in revenue in the second quarter ended June 30, up from $305 million a year ago and $695 million in the first quarter. The loss in the quarter was $2.8 billion in Q2, compared with a loss of $2.4 billion a year earlier and $2.96 billion in the first quarter.

 

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Really goes to show how Oculus was able to become the front-runner and sell a decent number of Quest 2 headsets, but all of those TV ads running non-stop, and them clearly selling the hardware at a loss is resulting in massive losses.

 

And, if the Quest VR game space isn't really make any money, you can only imagine just how bad the PC VR space is doing right now.

 

There's almost no PC VR game that isn't:

 

A.) Co-developed as a Meta VR game, and possibly a PSVR1 game as well

 

and

 

B.) Looks like cheap shit.

 

Zuckerberg is having to moneyhat developments like RE4 VR and GTA San Andreas VR.

[Ike★ 2,906]

Get fucked Zuckerbot

[Mr. House 3,371]

VRchat destroys the Metaverse in popularity and it's just some free to play game that supports mods. Some boring and ugly corporate trash virtual world that sell Coca Cola ads is not going to pick up anytime soon.  

[Remij 4,670]

LOL and Jerky thinks Sony's PSVR2 is going to make a dent  

 

It'll end up EXACTLY like PSVR1..  

Edited July 28, 2022 by Remij

[Mr. Impossible 407]

9 minutes ago, Remij said:

LOL and Jerky thinks Sony's PSVR2 is going to make a dent  

 

It'll end up EXACTLY like PSVR1..  

 

I feel like hermshits were the ones acting like VR was the next big thing less than a decade ago. 

[Ike★ 2,906]

12 minutes ago, Remij said:

LOL and Jerky thinks Sony's PSVR2 is going to make a dent  

 

It'll end up EXACTLY like PSVR1..  

You mean well supported with great exclusive games? 

[Remij 4,670]

2 minutes ago, Mr. Impossible said:

 

I feel like hermshits were the ones acting like VR was the next big thing less than a decade ago. 

It will be.  It's quite obviously the next evolution in interactive entertainment.  

 

It still needs to be cheaper, more accessible, and less obtrusive than a big HMD on your face.

 

Once the stars align, it will be the next big thing.

[Remij 4,670]

2 minutes ago, Ike said:

You mean well supported with great exclusive games? 

Oh yea.. like PSVR  

[Ike★ 2,906]

Just now, Remij said:

Oh yea.. like PSVR  

Astro Bot (exclusive), Blood & Truth (exclusive), Unit Dawn: Rush of Blood (exclusive), Star Wars Squadrons, Beat Saber, Tetris Effect (timed exlusive), Resident Evil 7 (exclusive) and RE4 & RE8 coming. Plus many other supported titles that I didn't mention.

[Remij 4,670]

1 minute ago, Ike said:

Astro Bot (exclusive), Blood & Truth (exclusive), Unit Dawn: Rush of Blood (exclusive), Star Wars Squadrons, Beat Saber, Tetris Effect (timed exlusive), Resident Evil 7 (exclusive) and RE4 & RE8 coming. Plus many other supported titles that I didn't mention.

 

 

So why didn't PSVR take off?  

[Ike★ 2,906]

Just now, Remij said:

 

 

So why didn't PSVR take off?  

Did I mention sales? 

 

I said it will be well-supported with many great exclusive titles. Horizon going to be the best looking VR game ever upon release and EXCLUSIVELY on PS5. 

[jehurey 3,228]

19 minutes ago, Remij said:

Oh yea.. like PSVR  

which was the best selling VR device until Sony dropped along with the PS4's end of life cycle in 2019/2020.

 

And Sony didn't need to run ads non-stop, and lose $2.8 billion dollars per quarter for that to happen.

 

The PSVR2 will be a success, because it will reinforce people wanting to buy PS5's so that they can get the best ecosystem that delivers the best games.

 

You already know that Sony isn't going to have a problem selling PSVR2 when it launches.

[Remij 4,670]

30 minutes ago, jehurey said:

which was the best selling VR device until Sony dropped

 

[jehurey 3,228]

4 minutes ago, Remij said:

 

Yeah..........the PSVR is not a "current" device for Playstation. They are not advertising it, they are not actively making games for it.

 

Its a legacy device.

 

And it delivered more in its 3.5-4 years than the rest of the VR industry from all other platforms, combined.

[Remij 4,670]

5 minutes ago, jehurey said:

Yeah..........the PSVR is not a "current" device for Playstation. They are not advertising it, they are not actively making games for it.

 

Its a legacy device.

 

That's right!  

[Substatic 421]

1 hour ago, Mr. Impossible said:

 

I feel like hermshits were the ones acting like VR was the next big thing less than a decade ago. 

 

Those were idiots we excised them like a cancer. 

[JonDnD 2,613]

VR is never going to be anything more than a niche gimmick device . Not even with 120 million PS4 owners could sony sell more than 5 million PSVR. And they all flopped on Pc with an insanely high userbase. That alone will discourage devs from making games on it. Not to mention its a 300-500 dollar purchase in addition to a PS or PC. It will be for the hardcore enthusiasts only. If it doesnt make them sick. Nobody ever talked about playing PSVR or PC VR outside of some gimmick games here and there. VR is a flop.

[jehurey 3,228]

6 hours ago, Remij said:

That's right!  

And it was enough of a success for them when IT WAS A CURRENT DEVICE for them.

 

Hence PSVR2

 

And PSVR2 will absolutely be a success for them during this PS5 gen. Moreso than PSVR1.

 

You already know this. Why bother trying to argue against it?

[Mr. Impossible 407]

10 hours ago, Substatic said:

 

Those were idiots we excised them like a cancer. 

 

Like you excised that Star Citizen sig lol. 

[TLHBO 2,162]

Yeah you can see why all the other VR conpanies have been so chill and less aggressive with their products. Facebook wanted market domination so bad but apparantly its too costly even for them.