Facebook’s Meta Will Devote 20% of Costs to Metaverse Next Year
- Company says 20% of spending to go toward Reality Labs
- Meta’s metaverse plans have raised questions from critics
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Facebook parent company Meta Platforms Inc. will continue to devote about 20% of its overall costs and expenses to Reality Labs in 2023, despite questions about the business division focused on augmented and virtual reality and the so-called metaverse.
The projection, given by CTO Andrew Bosworth in a blog post Monday, is little changed from the 18% of spending Meta devoted to Reality Labs in the third quarter. That means the bulk of the company’s investments will continue to go toward what Meta calls its “family of apps” - Facebook, Instagram, WhatsApp, and Messenger.