Meta Reports Steady Revenue from Quest Store, Indicating a Stagnant Marketplace

At last month’s annual Game Developers Conference, Meta gave us the latest on how things are shaping up in the Quest marketplace. They mentioned that the content on their Quest store has raked in “over $2 billion.” If that number rings a bell, it’s probably because it was the same figure they shared over a year ago.

Since Quest’s initial launch back in 2019, developers have seen some promising revenue growth—especially during the Quest 2 days. But in the past couple of years, that growth seems to have hit the brakes somewhat.

Meta has occasionally celebrated new revenue milestones, like when they touted the $2 billion achievement in September 2023. But, oddly enough, they brought up the same $2 billion figure in their recent update.

This might hint that the $3 billion mark is still just out of reach—otherwise, you’d think Meta would be celebrating that milestone instead. If we do some estimating, it seems reasonable to guess that the revenue from Quest content is hovering around $2.9 billion as of March 2025.

With this assumption, we’ve adjusted our understanding of the Quest store’s revenue journey. After the impressive surge in average monthly store revenue during the Quest 2 era, things started to level off with the arrival of Quest 3 and the Quest 3S.

In the reflections on the Quest marketplace, Meta tossed out a few additional statistics, though they didn’t deep-dive into the details:

– Payments are up by about 12% in 2024.
– Monthly time spent in VR was 30% higher in 2024 compared to the year before.

Road to VR reached out to Meta for more clarity on this recurring “over $2 billion” statement from 2023 and 2025, but they haven’t heard back as of yet.

It’s worth remembering the unique timing of Quest 2’s launch in October 2020. This was right in the thick of COVID lockdowns when everyone was searching for new ways to pass the time and stay connected from home. It launched at a compelling $300 price point, which was $100 less than its predecessor.

Fast forward to October 2023, and here comes Quest 3, launching at a steeper $500 price. It was heavily marketed for its ‘mixed reality’ features, which didn’t come across as fully realized or essential from the get-go.

Realizing that Quest 3’s hefty price tag might be hampering its adoption, Meta launched the Quest 3S in October 2024, bringing back the $300 price point. They also made a permanent cut to the price of the 512GB Quest 3 model, dropping it from $650 to $500.

It’s only been about half a year since these updates, so it might take a bit more time to see whether these moves will change the spending pattern within the Quest ecosystem. Yet, new tariffs introduced by the Trump administration could potentially disrupt Meta’s pricing plans.

Beyond just the pricing and perceived value of their headsets, Meta has also been discussing a noteworthy shift in user demographics and buying trends. According to them, newer and younger users are showing a strong preference for free-to-play content over premium offerings. This trend suggests a changing tide in the kinds of content driving the Quest store.