Meta’s Newest Quest Store Revenue Report Highlights a Stable yet Unchanging Market

At the latest Game Developers Conference, Meta took the opportunity to shed some light on the current status of the Quest marketplace. They mentioned that the Quest store’s content has amassed earnings of “over $2 billion.” If that number rings a bell, it’s because it was the headline figure the company touted over a year ago.

Since its inception in 2019, the Quest platform saw developers reaping substantial revenues, especially during the Quest 2’s peak period. However, growth in store revenue has hit a plateau in the past couple of years. Meta has flagged various revenue milestones along the way, like the $2 billion mark announced back in September 2023. Fast forward to now, over a year and a half later, and they’re still pointing to that same figure in recent updates on the Quest marketplace.

One could surmise that the $3 billion threshold hasn’t been met yet; otherwise, Meta would likely have sung about crossing that milestone. A fair estimate could put the current total revenue for the Quest platform at around $2.9 billion as we stand in March 2025.

In analyzing these trends, it’s evident that the Quest store’s previously speedy revenue growth during the Quest 2 era has slowed down significantly in the era of Quest 3 and Quest 3S. The charts tracking this shift paint a clear picture.

When Meta shared this latest update on the Quest marketplace, they also dropped a couple of additional, albeit vague, tidbits:

– Total payments increased by approximately 12% in 2024.
– Users’ monthly time spent in VR jumped by 30% in 2024 compared to the previous year.

Questions directed to Meta by Road to VR about the persistently referenced “over $2 billion” figure published both in 2023 and now in 2025 went unanswered.

As we reflect on the graphic presented, a few key points emerge. Quest 2 entered the scene in October 2020 when COVID-19 restrictions had people craving new forms of entertainment and connection. Being priced at a very attractive $300, which was $100 less than its predecessor, made it a popular gift option as well.

In contrast, when the Quest 3 hit the shelves in October 2023, its premium price tag of $500 was paired with meta-marketing around its ‘mixed reality’ features—features that weren’t fully polished or compelling enough at that time. Realizing that the more expensive Quest 3 wasn’t flying off the shelves quite like the budget-friendly Quest 2, Meta introduced the Quest 3S in October 2024. This model returned to the $300 price point and also reduced the price on the larger 512GB Quest 3 from $650 to $500 permanently.

With the Quest 3S and the price reduction for its predecessor only hitting the market six months ago, it’s too soon to tell how these moves will affect the overall growth in spending on the Quest platform. Complicating matters further, the imposition of new tariffs by the Trump administration could potentially disrupt Meta’s revised pricing strategy.

Beyond just pricing and value propositions, Meta has also opened up about a significant shift in user demographics and purchasing behaviors within the Quest store. They report that there’s a noticeable trend where younger users are increasingly favoring free-to-play content over premium paid content. This dynamic is certainly reshaping the landscape of how the Quest store operates.