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

Last month, during the Game Developers Conference, Meta gave us a peek into the current state of the Quest marketplace. What caught everyone’s attention in their update was the revelation that the Quest store has generated “over $2 billion” in revenue. If you’re experiencing a sense of déjà vu, it’s because Meta reported the same figure over a year ago.

Since its debut in 2019, the Quest platform saw developers raking in impressive revenue, particularly during the era of Quest 2. However, in the past couple of years, the once robust revenue growth has lost some momentum.

Meta occasionally highlights new revenue milestones, such as the $2 billion mark they announced back in September 2023. Fast forward a year and a half, and they echoed the same $2 billion figure in their recent marketplace update.

This consistency in numbers suggests that they haven’t quite hit the $3 billion mark; otherwise, you can bet they would have made a point of sharing that milestone. So, a fair guess would be that, as of March 2025, the total sales on the Quest platform hover around $2.9 billion.

Updating our insights based on this, it’s apparent that after a period of dynamic monthly revenue growth during the Quest 2 phase, things have largely plateaued with the introduction of Quest 3 and Quest 3S.

In the same marketplace update, Meta shared a few other tidbits, though details were sparse:

– “Total payments were up about 12% in 2024.”
– “Customers spent 30% more time in VR each month in 2024 compared to the previous year.”

When reached out by Road to VR for more information about the “over $2 billion” claim spanning from 2023 to 2025, Meta remained tight-lipped.

Let’s not forget some context when pondering over the chart above. Quest 2 made its debut in October 2020, during a period when COVID lockdowns had people hungrily seeking new ways to stay entertained and virtually connected. It was also priced attractively at $300, which was $100 less than the first Quest.

The Quest 3 launched in October 2023, sitting at a steeper $500 and boasting ‘mixed reality’ features that, at launch, were neither fully developed nor a compelling reason for purchase.

Seeing a lukewarm reception to the pricier Quest 3, Meta released the Quest 3S in October 2024, reverting back to a more palatable $300 price tag. They also cut the cost of the larger 512GB Quest 3 model from $650 to $500.

With these changes being relatively fresh – only six months in – we have yet to see if they’ll nudge the growth trajectory of spending in the Quest ecosystem. However, beware; new tariffs from the Trump administration could throw a wrench in Meta’s pricing schemes.

Beyond just price points, Meta recently discussed notable changes in user demographics and spending behaviors, which have reshaped the Quest store’s environment. They highlighted how newer, younger users are increasingly seeking free-to-play options over premium content.