Facebook Owner Meta Records 16 Percent Surge in Annual Revenue, Metaverse Unit Still Under Loss

However, the company’s Reality Labs unit has been incurring losses for the last three years. Zuckerberg said, “In the fourth quarter of last year, our business and community have grown. We have made great progress in AI and the metaverse.” about three years ago Facebook meta Was rebranded as. Zuckerberg had also informed about the plan to explore possibilities in the metaverse. For this, a new unit Reality Labs was created.

Over the past three years, Reality Labs has launched hardware products like Quest VR connected to the metaverse and augmented reality (AR). By March last year, Meta had sold approximately 20 million units of the Quest headset. Big technology companies like Meta and Google are facing difficulties due to non-compliance with regulations in some countries. Recently the Central Government had said that the dominance of big ad-tech companies on the Internet is a matter of concern. These companies include internet search engine Google and social media platform Facebook. Regulators in some other countries have taken steps against the monopoly of these companies.

Minister of State for Electronics and Information Technology Rajeev Chandrasekhar had said that the model of revenue sharing between digital news publishers and big tech companies is tilted in favor of these companies and this is a matter of concern for the government. He said that there has been a big change in the country regarding digital and tech segments. The country is no longer seen as a place to start a low-cost back office, but as an important partner. Chandrashekhar said, “We are concerned about the huge imbalance between those who create content and those who help monetize it. From a policy-making perspective, we want to keep the Internet open. We do not want monetization on the Internet to be a , be under the control of two or three companies.”