Meta Platforms Introduces a Virtual Reality Subscription Service
Meta Platforms has unveiled Meta Quest+, a virtual reality subscription service priced at $7.99 per month or $59.99 per year.
- Meta Quest+ is part of Meta’s strategy to generate recurring revenue from its Reality Labs division.
- Subscribers to Meta Quest+ receive new games monthly.
- The Subscription is compatible with a range of headsets.
USA – June 26th, Meta Platforms announced Meta Quest+, a subscription-based service for its virtual reality (VR) headsets. At $7.99 per month or $59.99 per year, the subscription service gives users access to two new games monthly. And it’s compatible with Quest 2, Quest Pro, and the upcoming Quest 3 VR headsets.
This virtual reality subscription service is part of Meta’s strategy to generate recurring revenue from its Reality Labs division. This division focuses on developing VR and augmented reality (AR) technologies. And while Meta reported a profit of $5.7 billion for the first quarter of this year, Reality Labs reported an operating loss of $3.99 billion.
So, the company aims to make its VR division profitable and compete with rivals like Apple, who recently unveiled its highly anticipated mixed-reality headset, Apple Vision Pro, adding to the competition. Apple’s product is set to be released in early 2024 and is priced at $3,499. This price tag is considerably higher than other headsets in the market compared to Meta’s VR headsets, priced between $299.99 and $999.99.
In its Meta Quest blog post, Say Hello to Meta Quest+, Our New VR Subscription Service, the company writes “Subscription services have been a great way to get more bang for your buck as far back as the Blockbuster days. And at a monthly value of up to $60 USD, Meta Quest+ combines affordability with the convenience of a curated experience. We’re excited to give gamers on Meta Quest a new way to explore all their headsets have to offer.”
Subscribers to Meta Quest+ will receive new games on the first day of each month, and they can continue playing these games as long as their subscription remains active. The service aims to provide diverse gaming experiences for VR enthusiasts.
The initial games available for Meta Quest+ subscribers in July are “Pixel Ripped 1995” and “Pistol Whip.” In August, subscribers will then receive “Walkabout Mini Golf” from Mighty Coconut and “Mothergunship: Forge” from Terrible Posture Games. However, the subscription will not be available in all markets, including India, where Meta does not sell Quest headsets.
Meta Platforms’ launch of Meta Quest+ showcases its commitment to generating recurring revenue from its VR division, Reality Labs. The company is also determined to make its dreams of a metaverse a reality.
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