{"id":752,"date":"2021-11-19T12:57:12","date_gmt":"2021-11-19T11:57:12","guid":{"rendered":"https:\/\/monblogeur.tech\/index.php\/2021\/11\/19\/facebook-is-spending-at-least-10-billion-this-year-on-its-metaverse-division-the-verge\/"},"modified":"2021-11-19T12:57:12","modified_gmt":"2021-11-19T11:57:12","slug":"facebook-is-spending-at-least-10-billion-this-year-on-its-metaverse-division-the-verge","status":"publish","type":"post","link":"https:\/\/monblogeur.tech\/index.php\/2021\/11\/19\/facebook-is-spending-at-least-10-billion-this-year-on-its-metaverse-division-the-verge\/","title":{"rendered":"Facebook is spending at least $10 billion this year on its metaverse division &#8211; The Verge"},"content":{"rendered":"<div class=\"cfbc967f0983488262956e73eca9483a\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3859091246952232\" crossorigin=\"anonymous\"><\/script>\r\n<!-- blok -->\r\n<ins class=\"adsbygoogle\" data-ad-client=\"ca-pub-3859091246952232\" data-ad-slot=\"1334354390\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n\n<\/div>\n<p>Filed under:<br \/>And expects to spend more \u2018for the next several years\u2019<br \/>Facebook plans to spend at least $10 billion this year on Facebook Reality Labs, its metaverse division tasked with creating AR and VR hardware, software, and content.<br \/>\u201cWe are committed to bringing this long-term vision to life and we expect to increase our investments for the next several years,\u201d the company wrote in <a href=\"https:\/\/investor.fb.com\/investor-news\/press-release-details\/2021\/Facebook-Reports-Third-Quarter-2021-Results\/default.aspx\">its third-quarter earnings release<\/a> this afternoon. Facebook sees AR and VR as being core to \u201cthe next generation of online social experiences.\u201d<br \/>The division, which already makes the Oculus Quest headset and Portal lineup of calling devices, is clearly being positioned as the next big thing inside of Facebook. For one, CEO Mark Zuckerberg <a href=\"https:\/\/www.theverge.com\/22588022\/mark-zuckerberg-facebook-ceo-metaverse-interview\">has been talking about the metaverse nonstop<\/a> for the past several months. And today, Facebook said it\u2019s going to begin reporting earnings specifically for its Reality Labs segment, while Facebook\u2019s main ads business \u2014 a staggering $28 billion this last quarter alone \u2014 will be reported under another bucket. It\u2019s a sign to investors that the Reality Labs business matters and should be judged separately from how they value Facebook today.<br \/>It\u2019s also a move to, perhaps, distract from what else is going on in Facebook\u2019s earnings today. The company missed revenue expectations by around $1 billion (this is not a lot, exactly, at Facebook\u2019s scale), which speaks to some of the company\u2019s struggles right now. Facebook blames a number of factors for this: COVID-19, the economy, and Apple\u2019s recent ad-tracking changes \u2014 something we saw last week <a href=\"https:\/\/www.theverge.com\/2021\/10\/21\/22738940\/snap-q3-2021-earnings-ios-ad-tracking\">when Snap reported earnings<\/a>, too.<br \/>Apple updated iOS in April with <a href=\"https:\/\/www.theverge.com\/2021\/4\/27\/22405474\/apple-app-tracking-transparency-ios-14-5-privacy-update-facebook-data\">a new privacy feature<\/a> that requires users to actively opt in to allow apps to track them across other apps and websites. Initially, social media companies said they weren\u2019t certain how much it would impact their ads businesses, which rely on that tracking in part to measure the efficacy of ads.<br \/>It\u2019s been a rough few weeks for Facebook. A series of stories in <em>The Wall Street Journal <\/em>detailed significant missteps by the company, including moderation issues and concerns about younger users\u2019 mental health; the whistleblower who leaked those documents then testified before Congress; and just this morning, dozens of stories were published by a consortium of news outlets, including <em>The Verge<\/em>, covering <a href=\"https:\/\/www.theverge.com\/22740969\/facebook-files-papers-frances-haugen-whistleblower-civic-integrity\">even more problems for Facebook<\/a>, <a href=\"https:\/\/www.theverge.com\/22743744\/facebook-teen-usage-decline-frances-haugen-leaks\">including worries about declining usage among teens<\/a>. Also, in the middle of all of that, Facebook\u2019s apps were <a href=\"https:\/\/www.theverge.com\/2021\/10\/4\/22708989\/instagram-facebook-outage-messenger-whatsapp-error\">all down for a good chunk of a day<\/a> in early October.<br \/>On a call with investors Monday, CEO Mark Zuckerberg struck a defiant tone about the leaked documents, saying they were part of a \u201ccoordinated effort\u201d to \u201cpaint a false picture of our company.\u201d He then quickly pivoted to talking about Facebook\u2019s <a href=\"https:\/\/www.theverge.com\/2021\/10\/25\/22745622\/facebook-young-adults-refocusing-teams\">work to court young people<\/a> and building the metaverse, reinforcing the idea that the the company <a href=\"https:\/\/voxmedia.stories.usechorus.com\/compose\/bc59d6b3-0ae0-4451-8e38-ed6b22211044\">would like to push toward something new<\/a> where, just maybe, it can escape some of the scrutiny.<br \/><em><strong>Update October 25th, 6:10PM ET: <\/strong><\/em><em>This story has been updated with remarks from Facebook\u2019s earnings call.<\/em><br \/>Subscribe to get the best Verge-approved tech deals of the week.<br \/>Please confirm your subscription to Verge Deals via the verification email we just sent you.<\/p>\n<p><a href=\"https:\/\/www.theverge.com\/2021\/10\/25\/22745381\/facebook-reality-labs-10-billion-metaverse\">source<\/a><\/p>\n<!--CusAds0-->\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Filed under:And expects to spend more \u2018for the next several years\u2019Facebook plans to spend at least $10 billion this year on Facebook Reality Labs, its metaverse division tasked with creating AR and VR hardware, software, and content.\u201cWe are committed to bringing this long-term vision to life and we expect to increase our investments for the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAow1sXXCw:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-752","post","type-post","status-publish","format-standard","hentry","category-non-classe"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/posts\/752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/comments?post=752"}],"version-history":[{"count":0,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/posts\/752\/revisions"}],"wp:attachment":[{"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/media?parent=752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/categories?post=752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monblogeur.tech\/index.php\/wp-json\/wp\/v2\/tags?post=752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}