September 23, 2023

La Ronge Northerner

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Meta: Facebook Owner Launches Virtual Reality Subscription Service

Meta: Facebook Owner Launches Virtual Reality Subscription Service

  • by Annabelle Liang
  • Business reporter

The owner of Facebook Meta has launched a virtual reality (VR) subscription service as he tries to make this part of his business profitable.

Meta says that paying users will get two new games per month.

During the first three months of the year, Instagram’s parent company saw a $4bn (£3.1bn) loss in its virtual reality unit.

The Meta faces competition from companies including tech giant Apple, which unveiled its highly anticipated mixed reality headset this month.

on monday, The company said The Meta Quest+ service, which costs $7.99 per month or $59.99 for an annual subscription, was compatible with the Quest 2, Quest Pro, and upcoming Quest 3 headphones.

In 2021, Meta CEO Mark Zuckerberg revealed plans to build a “metaverse” — an online world where people can play games, work, and communicate in a virtual environment, often with a VR headset.

“Over time, I hope we will be seen as a metaverse and want to base our work and our identity on what we are building towards,” Zuckerberg said.

In February of last year, Meta unveiled several ambitious AI projects, and Zuckerberg called AI “the key to unlocking the Metaverse.”

However, the Reality Labs division, which makes VR headsets and other products, posted a net loss of $4 billion for the period.

Earlier this month, Apple unveiled the Vision Pro mixed reality headset, in its first major hardware launch in nearly a decade.

This is much more than other headphones currently on the market. Meta VR headsets range in price from $299.99 to $999.99.