Meta’s New Quest Store Revenue Report Reveals a Stable Yet Static Market

At last month’s Game Developers Conference, Meta provided an update on how the Quest marketplace has been performing. Notably, the content on the Quest store has hit a revenue mark of “over $2 billion.” If this sounds like old news to you, it might be because it’s the same number the company reported over a year before.

Since the Quest platform debuted in 2019, earnings for developers saw significant growth during the peak of the Quest 2’s popularity. However, in the past couple of years, that growth has hit a plateau. Meta often celebrates financial milestones for the store, such as the $2 billion mark they shared in September 2023. More recently, in their latest update on the Quest marketplace, the same figure came up again, indicating some stagnation since then.

A logical assumption here is that overall revenue hasn’t reached $3 billion yet; otherwise, Meta would likely tout that achievement. It’s reasonable to estimate that the total revenue from sales on the Quest platform is nearing $3 billion, perhaps around $2.9 billion as of March 2025.

Based on this estimate, if we chart the Quest store’s revenue milestones, there’s a noticeable trend: after a surge in average monthly revenue during the Quest 2’s era, it has mostly stayed flat with the Quest 3 and Quest 3S.

In the same update, Meta did share a few more snippets, though details were sparse:

– Total payments saw a jump of about 12% in 2024.
– VR users spent 30% more time monthly in VR in 2024 compared to the year before.

Meta did not respond to Road to VR’s request for further details about this “over $2 billion” figure noted in both 2023 and 2025.

To understand the graph above, we need some background. The Quest 2 hit the market in October 2020, right when COVID-19 lockdowns kept people indoors, searching for entertainment and connection. It was also priced attractively at $300—a $100 drop from its predecessor.

Fast forward to October 2023, when Quest 3 was launched with a much steeper price of $500. Meta pushed its ‘mixed reality’ features, but they weren’t quite polished or a clear advantage at that point. Finding that the pricier Quest 3 wasn’t selling as well as the more affordable Quest 2, Meta launched Quest 3S in October 2024, returning to the more palatable $300 price point. They also slashed the price of the 512GB Quest 3 from $650 to $500.

With just about six months since these changes, it remains to be seen if they will impact spending trends on the Quest platform. Still, potential disruptions loom from new tariffs implemented by the Trump administration that could upset Meta’s pricing plans.

Aside from pricing and the appeal of its headsets, Meta also shared insights on shifting user demographics and spending patterns. It seems that the Quest store is being reshaped by a younger audience, with growing demand for free-to-play games instead of premium content.