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While the COVID-19 pandemic has been hard on everyone in different ways, the global lockdowns and mitigation efforts have accelerated the usage of digital platforms for social connection, shopping, work - basically every function in some form.
One of the key beneficiaries of that has been VR, which has seen a surge in popularity as people look to alternate forms of home entertainment.
Indeed, in Facebook s most recent performance update, the company s ‘Other Revenue figure (i.e. revenue not generated from ads) was more than double the same period in 2019.
Facebook CFO David Wehner specifically noted that this increase was largely due to strong sales of its Oculus Quest 2 VR device over the holidays.
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