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Mark Zuckerberg has promised to make “the metaverse more visually stunning and inspiring” as we progress into 2025. This declaration comes despite the company’s metaverse division, Reality Labs, reporting $5 billion in losses in Q4 2024.
The Meta CEO’s remarks were made while highlighting that the number of people using its VR headset, Quest, and metaverse world, Horizon, has increased. Zuckerberg emphasized that the long-term investments Meta drilled into the space will bear fruit this year.
It is worth noting that these observations come despite Reality Labs’ revenue being slightly above $1 billion with most of it coming from hardware sales, while its operating costs increased by 6% to $6 billion. The losses were attributed to “higher infrastructure costs and employee compensation.”
Reality Labs focuses on the metaverse and wearables, which includes virtual reality (VR), mixed reality (MR), and social platforms. Half of Reality Labs’ investment will be across the wearables initiatives.
Zuckerberg stated that Meta will continue investing in artificial intelligence (AI) with a target to reach over one billion people with its personalized AI assistant.
The promises and Q4 report come four months after Meta launched a cheaper metaverse headset.
Source: fullycrypto.com
