Meta’s Recent Quest Store Revenue Report Indicates a Stable Yet Unchanging Market

Last month, the Game Developers Conference was abuzz as Meta shared a new update on the Quest marketplace, revealing some fascinating insights into its performance. One notable mention was the impressive “over $2 billion” revenue figure from content sold on the Quest store. If that number rings a bell, that’s because it’s the same milestone they talked about over a year ago.

Since the Quest platform debuted in 2019, developers have enjoyed a notable rise in earnings, especially during the era of Quest 2. However, over the past couple of years, the revenue growth story seems to have hit a bit of a slowdown.

Meta occasionally highlights new revenue landmarks for the store. Take, for example, the $2 billion figure they boasted about in September 2023. Fast forward more than a year and a half, and they’re reiterating the same $2 billion milestone in their recent Quest marketplace update.

It’s safe to say they haven’t crossed the $3 billion mark yet, as Meta would have eagerly shared such news. So, if we’re being generous, it seems that by March 2025, the total revenue from Quest platform content is hovering around $2.9 billion.

With these figures in mind, let’s revisit the revenue progress of the Quest store. During the Quest 2 era, the platform enjoyed robust monthly revenue growth. Yet, since the advent of Quest 3 and Quest 3S, this growth has largely plateaued.

In their latest update, Meta also touched on a few more metrics, though details were sparse. Payments reportedly increased by 12% in 2024, and there was a 30% spike in the time customers spent in VR monthly compared to the previous year.

Despite multiple requests, Road to VR didn’t receive more context on the “over $2 billion” figure previously reported in 2023 and again in 2025.

As the chart illustrates, the launch of Quest 2 in October 2020 coincided with the height of COVID lockdowns, when people craved new forms of entertainment and ways to stay connected. Its appealing $300 price made it a hot gift pick, $100 less than its predecessor.

In contrast, Quest 3 entered the market in October 2023 at a steeper $500 price. Although Meta emphasized its ‘mixed reality’ features, they weren’t quite polished or an immediate draw at launch.

Possibly realizing the higher price tag of Quest 3 wasn’t resonating as well as the cheaper Quest 2, Meta released the Quest 3S in October 2024, bringing back the $300 price point. They also adjusted the cost of the larger 512GB Quest 3, dropping it from $650 to $500.

With just six months since these launches and price cuts, only time will tell if they impact the Quest platform’s spending growth. However, new tariffs introduced by the Trump administration could disrupt Meta’s pricing strategy.

Beyond headset pricing and value, Meta has also revealed pivotal shifts in user demographics and spending patterns, reshaping the Quest store’s landscape. Evidently, younger and newer users are fueling an increasing demand for free-to-play content as opposed to premium offerings.