Interested in learning what’s next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit Next. Register today.
During the Meta Connect keynote, the company provided critical insights into how much revenue VR software is generating on the Quest store.
According to the company, the Meta Quest store has earned $1.5 billion in revenue on games and apps since May 2019. This means that across 40 months, the store has averaged $37.5 million in revenue. According to Meta’s financial reporting, the company earned roughly $242.6 billion in revenue during this time period. This means VR software sales accounted for about 0.6% of Meta’s total revenue across the last 40 months.
Meta highlighted the performance of its top titles. Blade & Sorcery: Nomad reached $1 million in revenue in two days. Both Zenith: The Last City and Resident Evil 4 bested that, making $1 million and $2 million respectively in under 24 hours. However the recently released BONELAB outperformed them all, earning $1 million in less than an hour. That’s about 25,000 sales in 60 minutes.
Of course, Meta also wanted to emphasize that their titles have staying power. Since it’s October 2020 release, The Walking Dead: Saints & Sinners has brought in over $50 million in revenue. The Meta Quest store accounted for nearly half of the game’s lifetime revenue, showing the value the marketplace can deliver for VR publishers.
This level of success is also not totally out of the ordinary for titles on the Meta Quest store. Of the nearly 400 apps, one in three have made at least $1 million in revenue. Also, 33 titles have made over $10 million in revenue, up from 22 in February 2022.
To build on this momentum, Meta also announced several studio acquisitions to develop more software for its VR platform. Camouflaj, Twisted Pixel and Armature Studio are set to join Meta’s growing list of owned VR studios.
GamesBeat’s creed when covering the game industry is “where passion meets business.” What does this mean? We want to tell you how the news matters to you — not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it. Discover our Briefings.