Internal documents emerge nearly a year after Facebook CEO Mark Zuckerberg changed his company’s branding to Meta Platforms Inc.
The Wall Street Journal reports that Horizon Worlds, a free online virtual reality video game created by Meta Platforms Inc. Failed to meet internal performance expectations.
Internal documents obtained by the outlet show that Meta has set a target of 500,000 monthly active users by the end of this year, and although Zuckerberg said moving into the metaverse would take the company years to fully achieve, the company revised the projection to 280,000.
According to the Wall Street Journal, the current number of users is less than 200,000.
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The documents show that most Horizon users typically stop using the app after the first month and that the user base has been steadily declining since spring.
Popular Meta social media products, including Facebook and Instagram, serve an average of more than 3.5 billion customers per month compared to Horizon’s current numbers, which is less than the population of Sioux Falls, South Dakota.
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The Wall Street Journal reports that Horizon’s vast collection of virtual spaces where users appear as an avatar and interact with others around the world are underutilized, and only 9% of the worlds built by creators are visited by at least 50 people, with not many of them visiting. Absolutely.
The platform reported that complaints about “bugs” in the platform forced Meta to put Horizon in “lockdown” mode last month, which means new features will be paused until the vulnerabilities are patched.
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The Wall Street Journal reported that Meta shares have also fallen more than 60% over the past year, matching the company’s loss of more than $700 billion in market value since September 2021.
Zuckerberg this week unveiled a new virtual reality headset known as the Quest Pro, which he said will set standards in the metaverse technology world at a cost of $1,500 per unit.
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Meta did not immediately respond to a request for comment from Fox News Digital.
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