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

At last month’s Game Developers Conference, Meta revealed some updates regarding the current status of the Quest marketplace. Part of this update included a piece of news that might sound a bit too familiar if you’ve been following the numbers: all the content on the Quest store has amassed earnings of “over $2 billion.” Why does this ring a bell? Well, because it’s the same milestone Meta proudly announced over a year ago.

Since the Quest platform hit the scene in 2019, developers saw encouraging growth, especially during the Quest 2 period. However, in the last couple of years, the revenue stream seems to have slowed down significantly.

From time to time, Meta highlights new revenue benchmarks for their store, including the $2 billion update they shared in September 2023. Fast forward to now, and they still point to that same $2 billion figure in the latest marketplace report.

It’s fair to speculate that Meta hasn’t quite reached the $3 billion mark yet—if they had, it’s almost certain they’d be shouting about it. So, assuming the best-case scenario, the total content sales on the Quest platform are brushing just under $3 billion as of March 2025—let’s estimate around $2.9 billion.

With this in mind, it’s worth revisiting the revenue milestones of the Quest store. Initially, during the Quest 2 era, monthly store revenue soared. But now, as we move through the reign of Quest 3 and Quest 3S, that growth seems to have hit a plateau.

In a related marketplace update, Meta shared some additional metrics, though they kept things pretty vague:

– Total payments went up by about 12% in 2024.
– Customers spent 30% more monthly time in VR in 2024 compared to the previous year.

Interestingly, Meta hasn’t responded to Road to VR’s requests for more context around the recurring “over $2 billion” revenue figure from both 2023 and 2025.

Reflecting on the chart above, it’s crucial to consider some background factors. Quest 2 made its debut in October 2020, right when COVID lockdowns had people searching for fresh ways to entertain and connect while cooped up indoors. It also entered the market with a tempting $300 price tag, making it a hot gift item as it was $100 cheaper than its predecessor.

Quest 3, however, launched in October 2023 with a heftier price of $500. Meta pushed its ‘mixed reality’ capabilities hard, but these features weren’t exactly polished or compelling from the get-go.

It seems like the higher price point for Quest 3 didn’t resonate with consumers quite like the affordable Quest 2 did. In response, Meta introduced the Quest 3S in October 2024, bringing the price back to a more consumer-friendly $300. Additionally, they dropped the price of the 512GB Quest 3 model from $650 to $500.

Since the release of the Quest 3S and the price adjustment for Quest 3 are still relatively fresh, it’s a waiting game to see how these strategies will impact the Quest platform’s revenue path. Not to mention, new tariffs under the Trump administration might just throw a wrench into Meta’s pricing plans.

Shifting focus away from the headset pricing and features, Meta has also shed light on a notable shift in user demographics and spending patterns reshaping the Quest store landscape. According to Meta, there’s rising demand from a younger user base favoring free-to-play content over premium experiences.