Meta’s Reality Labs Spent $13.7 Billion Last Year on AR and VR.
Meta’s quarterly earnings call this Wednesday saw very few mentions of the “metaverse”, compared to 23 for AI. However, the company’s continued investment in its vision of a VR-connected future is still colossal.
Meta started breaking up its Reality Labs VR/AR division into its own section in 2021 for financial reporting. This allows you to see how much Meta invests in these areas. The numbers are astounding.
Meta reported $13.7 Billion in operating losses for Reality Labs in 2022. This is more than the $10.2 billion Meta invested in the division in 2021. Reality Labs reported $2.16 billion in revenue last year, down from $2.27 miliarde in 2021.
Meta purchased Oculus, a pioneering VR hardware company that laid the foundation for its efforts, for $2 billion in 2014. The company has continued to invest in this area, including the acquisition of several major software companies such as Beat Saber’s creator, and Now Within, the developer of the Virtual Workout App Supernatural.
