{"id":324452,"date":"2022-12-20T10:29:03","date_gmt":"2022-12-20T10:29:03","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=361361"},"modified":"2022-12-20T10:29:03","modified_gmt":"2022-12-20T10:29:03","slug":"meta-to-invest-19-2b-in-metaverse-next-year","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2022\/12\/20\/meta-to-invest-19-2b-in-metaverse-next-year\/","title":{"rendered":"Meta to invest $19.2B in metaverse next year"},"content":{"rendered":"

<\/p>\n

\tMeta Platforms will stay the course in 2023 with investment in its metaverse division Reality Labs expected to account for 20 per cent of its overall expenses amid growing scepticism of CEO Mark Zuckerberg\u2019s decision to focus on the nascent sector.<\/p>\n

Reality Labs CTO Andrew Bosworth noted in a blog post yesterday the company planned to spend about as much on the metaverse division next year as it did this year, despite a reported a loss from operations of $9.4 billion through the first nine months of 2022.<\/p>\n

In a research note, Radio Free Mobile’s Dr Richard Windsor said he recently estimated Meta\u2019s expenses in 2023 will be around $97.3 billion, meaning that spending on the Metaverse is expected to be $19.2 billion.<\/p>\n

“This is a vast amount of money to spend on a technology that might take off at the end of the decade leading me to think that this is also an insurance policy,” wrote Windsor. He added the move is “almost certain to hit earnings hard in 2023.”<\/p>\n

About 80 per cent of the company\u2019s investments will go towards Meta\u2019s \u201cfamily apps\u201d that include Facebook, Instagram, WhatsApp and Messenger. \u00a0Those apps accounted for roughly $32 billion in profit during that same period.<\/p>\n

The Reality Labs unit posted losses of $3.7 billion in Q3 [1], up $1.1 billion year-on-year, as the company invested 18 per cent in the metaverse division in that quarter.<\/p>\n

\u201cEconomic challenges across the world, combined with pressures on Meta\u2019s core business, created a perfect storm of scepticism about the investments we\u2019re making,\u201d Bosworth stated.<\/p>\n

Zuckerberg (pictured) announced in 2021 [2] that Facebook had changed its corporate name to Meta Platforms, but a large number of shareholders stated [3] this year they\u2019ve lost faith in that decision to focus resources on metaverse products and services.<\/p>\n

He announced in November [4] that the company would cut around 13 per cent of its global workforce, which amounted to more than 11,000 jobs.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/meta-value-takes-65b-hit-as-q3-disappoints\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/facebook-completes-metamorphosis\/
\n[3] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/meta-investors-losing-faith-in-metaverse-bet\/
\n[4] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/meta-platforms-slashes-11000-jobs\/<\/p>\n\n

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Meta Platforms will stay the course in 2023 with investment in its metaverse division Reality …<\/p>\n

The post Meta to invest $19.2B in metaverse next year<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":1857,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"Meta to invest $19.2B in metaverse next year - ITTeacherITFreelance.hk","description":"Meta Platforms will stay the course in 2023 with investment in its metaverse division Reality ... The post Meta to invest $19.2B in metaverse next year appeared"},"footnotes":""},"categories":[11,8],"tags":[],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/324452"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/1857"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=324452"}],"version-history":[{"count":3,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/324452\/revisions"}],"predecessor-version":[{"id":325773,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/324452\/revisions\/325773"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=324452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=324452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=324452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}