Do you want to know what’s next for the gaming industry? Join gaming executives to discuss emerging parts of the industry at GamesBeat Summit Next in October. Register today.
During the Meta Connect keynote, the company provided critical insights into how much revenue VR software generates in the Quest store.
According to the company, the Meta Quest store has earned $1.5 billion in revenue from games and apps as of May 2019. This means that the store has generated an average of $37.5 million in revenue over 40 months. According to Meta’s financial reporting, the company earned approximately $242.6 billion in revenue during this period. This means that sales of VR software over the past 40 months have accounted for approximately 0.6% of Meta’s total revenue.
Meta emphasized the achievements of his top titles. Blade & Sorcery: Nomad reached $1 million in sales in two days. Both Zenith: The Last City and Resident Evil 4 surpassed that, making $1 million and $2 million, respectively, in less than 24 hours. But the recently released BONELAB outperformed them all, making $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 the October 2020 release, The Walking Dead: Saints & Sinners has generated more than $50 million in revenue. The Meta Quest store accounted for nearly half of the game’s total revenue, demonstrating the value the marketplace can deliver for VR publishers.
This one level of success is also not entirely uncommon for titles in the Meta Quest store. Of the nearly 400 apps, one in three has generated at least $1 million in revenue. Also, 33 titles have generated more than $10 million in revenue, an increase of 22 in February 2022.
To build on this momentum, Meta also announced several studio acquisitions to develop more software for its VR platform. camouflage, Twisted Pixel and Armature Studio will join Meta’s growing list of in-house VR studios.
The GamesBeat credo when talking about the game industry, is ‘where passion and business meet’. What does this mean? We want to tell you how important news is to you — not just as a decision maker in a game studio, but also as a game fan. Whether you’re reading our articles, listening to our podcasts, or watching our videos, GamesBeat helps you learn and have fun with the industry. Discover our briefings.