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Meta introduces VR service, faces competition from Apple


BNR – Meta, the parent company of Facebook, is introducing virtual reality (VR) membership service. The social media company is attempting to profit from that aspect of its business. According to Meta, subscribers will have a chance to play two new games each month.

Instagram’s parent company lost $4 billion in the first quarter of the year in its virtual reality (VR) unit. Meta will face rivalry from companies such as Apple, which revealed its eagerly awaited mixed-reality headset earlier this month.

The company announced on Monday that the Meta Quest+ service is suitable for its Quest 2, Quest Pro, and upcoming Quest 3 headsets. The monthly fee is $7.99, or $59.99 for a yearly membership.

Building Towards the Metaverse

Meta CEO Mark Zuckerberg announced arrangements to establish a “metaverse” in 2021. The Metaverse is a digital universe in which individuals can use VR headsets to play games, work, and interact in a virtual setting.

“Over time, I hope that we are seen as a metaverse company,” Zuckerberg said. “I want to anchor our work and our identity on what we’re building towards.”

Meta revealed multiple aspiring AI projects in February of the previous year. In addition, Zuckerberg referred to artificial intelligence as “the key to unlocking the metaverse.”

The company disclosed a $5.7 billion profit for the first quarter of the current year, exceeding the market’s projections. However, its Reality Labs division, which manufactures VR headsets and other products, disclosed a $4 billion net loss for the quarter.

VR Rivalry

Apple introduced its Vision Pro mixed-reality headset earlier in early June, marking the company’s first significant hardware launch in nearly ten years. Apple’s headset, which will be available in the United States in early 2023, will cost $3,499.

That is significantly more expensive compared to other headsets presently on the market. Meta’s VR headsets range in price from $299.99 to $999.99.


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