The Wall Street Journal said that Meta lowered its objective of reaching 500,000 monthly active users to 280,000 as current numbers fell below 200,000.
According to a poll, players had problems discovering worlds they liked, couldn’t locate people to hang out with, and thought avatars were unrealistic.
Horizon Worlds, the primary virtual reality social media platform of Meta, initially aimed to attract 500,000 monthly active members by the end of the year. However, that number is being lowered to 280,000 as the business encounters challenges in expanding its user base.
According to internal memos and papers acquired by the Wall Street Journal (WSJ), the current number of active users is less than two hundred thousand. Since the spring, user engagement has rapidly decreased, with many players abandoning the site after a month. The remaining gamers only visit 9 percent of possible planets, which may get up to 50 visits, while the bulk of digital places is simply disregarded.
According to reports, Meta’s Quest VR headsets, which gamers need to access Horizon, had a drop in use over the last three years. The $400 consoles displayed a declining retention rate.
Horizon is also significantly behind in concurrent users compared to competitor platforms that provide virtual social experiences, such as the 2014-launched VR Chat and the 2003-launched Second Life, according to individuals with knowledge of the situation.
Meta’s current share price of $126.76 is a year-over-year decline of more than 60%. Since its market value high in September 2021, the firm has lost almost $700 billion.