Meta’s revenue has been declining since the fourth quarter of 2021, according to a new report released by the firm. The company’s metaverse project, Horizon Worlds, is said to be particularly involved, with results that are still disappointing.
Meta revenue plummeted again
Meta’s quarterly report, intended for its investors, clearly shows this drop in the giant’s income, which is taking place since the last quarter of 2021 :
Meta revenue declining since late 2021
Meta’s revenue grew from $6.6 billion to $4.3 billion quarter-over-quarter. This is the third time the company has recorded a sharp decline. As confirmed by Meta CFO David Wehner, part of this drop is due to inflation. But a big factor to consider is the development of the company’s metaverse.
👉 To go further – Metaverse: understanding these virtual worlds based on blockchain and NFTs
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The metaverse sinks the budget of Meta
As a reminder, it is a division of Meta, Reality Labs, which takes care of this colossal project. In the last semester, she records a loss of $3.6 billion. According to Mark Zuckerberg, the firm has a long-term vision. The CEO of Facebook indeed considers that this investment will pay off in the future:
“We are clearly doing a major job. This is a massive task, which will often have to take several versions of the same product. to be widely adopted. »
Zuckerberg is convinced that the metaverse will draw new uses in ” how we interact with each other, and how we integrate technology into our lives”.
👉 Find the top 4 promising metaverses for 2022
A necessary confidence, when we see the first results of the metaverse of Meta, Horizon Worlds, which are quite disappointing. Recently, the vice-president in charge of the metaverse, Vishal Shah, made a bitter observation about the lack of interest from users:
“Why don’t we like the product, which we are working on so much, enough to be able to use it all the time?” The simple truth is, if we don’t like it, how can we expect our users to like it? »
Horizon Worlds does indeed attract only about 300,000 users per montha drop in the bucket compared to Facebook’s nearly 3 billion monthly active users.
It must also be said that Meta has invested heavily in technologies related to its virtual reality headsets. The company aims to make a hit, and recently delivered its Quest Profor the modest sum of $1,499 per headset.
Will the giant then succeed in attracting users to its metaverse? That remains to be seen. Mark Zuckerberg, however, is confident, explaining: “ I think our work will have historical significance ».
👉 To read on the same subject – L’Oréal partners with Meta to support French startups in the metaverse
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Source: Meta
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Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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