How Much Did Facebook Spend On Metaverse [Crazy Amount]

October 4, 2022
How Much Did Facebook Spend On Metaverse [Crazy Amount]

This is a question that many people have been asking since Facebook announced its plans to create a metaverse. While the exact amount is unknown, we can make some informed guesses based on the information that is available.
Let’s find out how much did Facebook spend on Metaverse.

 

How Much Did Facebook Spend on Metaverse

Facebook Reality Labs, the metaverse subsidiary tasked with developing AR and VR technology, software, and content, aims to invest at least $10 billion this year.

It is obvious that the division, which already produces the Oculus Quest headgear and the Portal line of communication devices, is being pitched as Facebook’s next big thing. One reason is that Facebook’s CEO Mark Zuckerberg has been discussing the metaverse incessantly over the past few months.

Although Facebook’s main ad business, which generated an astounding $28 billion in revenue in the most recent quarter alone, will be disclosed under a different category, the company will start disclosing profitability exclusively for its Reality Labs sector. Investors will see it as a signal that the Reality Labs business matters and should be evaluated independently of how they now value Facebook.

It may also be an attempt to divert attention from other developments in Facebook’s earnings today. The corporation’s $1 billion sales shortfall reflects certain current difficulties the company is facing.

 

Epilogue

The amount of money Meta spends is not expected to decrease any time soon, especially given that it is engaged in a head-to-head competition with other tech behemoths for a position in the hypothetical metaverse.

Despite the fact that Activision does not create virtual reality games, Microsoft touted the acquisition of video game producer Activision Blizzard as a foundation for the metaverse when it announced the transaction for about $70 billion.

The number of people using Meta’s social networking apps grew over time. According to the business, there were 3.59 billion monthly active users of Facebook, Instagram, WhatsApp, and other apps in the third quarter compared to 3.55 billion in the prior quarter. The corporation also stated that each week, over one billion people engage with corporate accounts through platforms like WhatsApp and Messenger.

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