Meta Launches Virtual Reality Subscription Service

MetaversePlanet September 17, 2023

0 1 minute read

Meta, the parent company of Facebook, has recently launched a Virtual Reality (VR) subscription service, providing subscribers with access to two new games monthly.

Even though it reported a $4 billion loss in its VR division for the first quarter, the company continues to stay competitive, particularly as tech behemoths such as Apple join the competition with their highly anticipated mixed reality headset.

The subscription service launched by Meta, known as Meta Quest+, is available at a monthly fee of $7.99 or an annual rate of $59.99. It is designed to be compatible with the Quest 2, Quest Pro, and the upcoming Quest 3 headsets.

This initiative follows Meta CEO Mark Zuckerberg’s 2021 announcement of the company’s bold vision to create a metaverse—a digital universe where users can interact, work, and engage in leisure activities. Zuckerberg has emphasized the critical role of Artificial Intelligence (AI) in realizing the metaverse’s full potential, unveiling several ambitious AI initiatives last February.

Despite the losses in its Reality Labs division, which focuses on VR headsets, the company overall exceeded market expectations by reporting a $5.7 billion profit for the first quarter of this year.

In contrast, Apple recently unveiled its Vision Pro mixed reality headset with a price tag of $3,499, slated for release in the United States early next year.

This pricing places it significantly higher than Meta’s VR headset lineup, which ranges from $299.99 to $999.99. This scenario indicates a rapidly intensifying competition to lead the burgeoning sectors of virtual and mixed realities.