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

At last month’s Game Developers Conference, Meta provided insights into the current state of the Quest marketplace, and it became clear that things are not quite as they seem. They mentioned that revenue from content on the Quest store has surpassed “over $2 billion.” If that number rings a bell, it should, as Meta also shared this same figure over a year ago, raising some questions.

Since the Quest platform kicked off in 2019, developers have witnessed impressive revenue growth, particularly during the Quest 2 era. However, in the past two years, growth on the Quest store has noticeably tapered off.

Meta has, from time to time, highlighted milestones to showcase success, such as the $2 billion figure announced back in September 2023. Fast forward more than eighteen months, and the company again highlighted this exact figure in their latest update about Quest’s marketplace status.

It’s reasonable to speculate that this indicates the $3 billion threshold hasn’t yet been reached. Otherwise, Meta would surely have celebrated that figure with enthusiasm. So, interpreting this as generously as possible, we might estimate that the total revenue from Quest content stands just shy of $3 billion as of March 2025—let’s say around $2.9 billion.

With this in mind, we can revisit our tracking of the Quest store’s revenue milestones. While the Quest 2 period displayed notable monthly revenue growth, this momentum has plateaued since the dawn of the Quest 3 and Quest 3S era.

Within the same marketplace update, Meta shared additional, albeit sparse, insights:

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

Despite multiple attempts from Road to VR to gain more clarity on the “over $2 billion” figure quoted in both 2023 and 2025, Meta chose not to respond.

Looking at the visual data, it’s crucial to consider some significant context. Quest 2 hit the market in October 2020 when COVID-19 lockdowns had people looking for innovative ways to engage and connect while confined to their homes. With a friendly $300 price tag, which undercut its predecessor by $100, the device was quite the tempting offer.

By contrast, Quest 3 debuted in October 2023 with a heftier price of $500, promoted for its advanced ‘mixed reality’ potential. However, this was neither very refined at launch nor a clear selling point.

Perhaps noticing that the pricier Quest 3 wasn’t as warmly received as the more affordable Quest 2, Meta released Quest 3S in October 2024, going back to a $300 pricing strategy. It also permanently reduced the cost of the premium 512GB Quest 3 model from $650 to $500.

With just half a year passed since Quest 3S and the corresponding price adjustment on the Quest 3, it’s too early to declare whether these changes will shift the Quest platform’s financial trajectory. Complicating matters could be the new tariffs implemented by the Trump administration, which might disrupt Meta’s pricing approach.

Beyond the pricing and features of its headsets, Meta recently shed light on a transformative shift in user demographics and spending preferences that is altering the Quest store landscape. The company noted that younger users are driving the push toward free-to-play content as opposed to premium offerings.