📉 Meta's Revenue Plunges

Good morning everyone!

Welcome back to The Virtual Digest!

Meta is once again losing a significant amount of money for its Extended Reality department, which is not too surprising. The question is, up to what point will Zuckerberg keep supporting this very expensive vision of his?

Today’s Topics:

• 📉 Meta's XR Revenue Plunges Down

• 📺 Netflix is not betting on the Vision Pro

• 🫀 Human Anatomy can be learned in VR

Reading time: 4min

📉 Meta's XR Revenue Plunges Down

Meta's Reality Labs XR division reported a disappointing performance in Q2 2023, with a 39% revenue decline 📉 primarily attributed to lower sales of Quest 2. The company continues to invest aggressively in XR, resulting in operating losses of approximately $3.7 billion for the quarter.

Details:

• Meta's expenses for Reality Labs reached $4 billion 💸, a 23% increase compared to the same period last year, primarily driven by growth in employee-related costs and a reduction in loss reserves.

• The upcoming launch of Quest 3, expected in late 2023, is aimed at integrating mixed reality capabilities from Quest Pro 🚀. However, Quest Pro's $1,000 headset has been reportedly discontinued, and the possibility of a Quest Pro 2 remains uncertain.

• Apple's Vision Pro XR headset, set to launch next year at a higher price point of $3,500, may indirectly benefit Meta in the short term by increasing interest in the XR space.

• Meta's competitive pricing and extensive game catalogue for Quest 3 may position them well during the holiday season 🎮.

Why it matters: Meta's ongoing focus on investing in AR/VR technology and expanding its XR ecosystem has led to significant operating losses. With new headset releases on the horizon and competition from Apple's Vision Pro, Meta faces challenges in maintaining market share and profitability in the XR market.

📺 Netflix is not betting on the Vision Pro

Netflix has no plans to develop a native app for Apple's Vision Pro mixed reality headset. Instead, the company will allow its existing iPad app to run unmodified on the device.

Details:

• Developers have two choices for Vision Pro software: run their iPad apps as they are or tweak them for the headset. Netflix chose the former option📱.

• Netflix's decision not to offer dedicated support for Vision Pro comes amid past conflicts with Apple ⚔️, including rejecting in-app purchasing (IAP) and lack of support for AirPlay on iOS and iPad apps.

• The Vision Pro will launch with a vast library of iPad apps that can be run without alteration, but there are concerns about potential bugs or missing features compared to native streaming apps 🔍.

• High-profile developers may be hesitant to develop for Vision Pro due to its high starting price of $3,500 and likely limited first-year sales ⛔.

• Other companies like Disney, Zoom, and Microsoft have committed to developing software for the Vision Pro.

Why it matters: Netflix's decision not to create a native Vision Pro app raises questions about the headset's appeal to high-profile developers. As Apple's first foray into the mixed reality space, the success of Vision Pro may depend on its ability to attract quality software and create a compelling ecosystem for users 🧩. The availability of familiar iPad apps might provide a starting point, but the lack of tailored experiences could impact the device's overall appeal.

🫀 Human Anatomy can be learned in VR

Human Anatomy VR, a medical educational app, is now accessible on PSVR 2, offering both high school and University-level content with detailed 3D models and over 13,000 anatomical structures 🧠.

Details:

• Developed by Virtual Medicine, Human Anatomy VR is now available on PSVR 2, providing users with a comprehensive understanding of the human body 🔬.

• The app offers high school content for curious learners and University-level content tailored for medical students and professionals preparing for anatomical exams 🎓.

• Human Anatomy VR features 15 body systems, including bone mapping with 5,000 bone features and 21 microanatomy models 🦴.

• Users can explore over 500 movement animations 🚶‍♀️ and access a wealth of realistic anatomical structures created by medical professionals.

• The app's description highlights its suitability for various audiences, including students, medical practitioners, fitness enthusiasts, and science enthusiasts 🎯.

Why it matters: The availability of Human Anatomy VR and other Educational VR experiences are vital as they offer immersive and interactive learning, enabling deeper understanding of complex subjects like human anatomy. They enhance retention and practical application of knowledge, making learning more engaging 📚 and accessible to a broader audience, ultimately revolutionizing the way we acquire knowledge.