The Blubber

Per CNBC

A Piper Sandler survey found that most Americans weren't too excited about Virtual Reality. While 87% of participants owned iPhones, only 29% owned a VR device.

88% of American teens noted that they wanted their next phone to be an iPhone.  

The study found that only 4% of American teens that owned a VR used the headset daily, and only 14% used it weekly. The survey also found that a little over half of the participants weren't interested in VR or were unsure.

As for those interested in purchasing a VR headset, only 7% of participants said they wanted to buy one. A Piper Sandler analyst wrote a statement regarding how they think that VR still remains in its "early days."

“To us, the lukewarm usage demonstrates that VR remains ‘early days’ and that these devices are less important than smartphones,”

The survey reportedly consisted of over 5,690 US teens in February. This comes as Apple already announced its plans to launch its own headset as soon as this year.

Per Seeking Alpha, AR VR spending reached $13.8 billion in 2022 and was expected to reach $50.98 billion in 2026, according to IDC reports.

In October 2022, Meta wanted to reach 500k monthly active users in Horizon Worlds by the end of 2022. This was despite having only 200k during that time and already spending $15 billion.

Shortly before that, it was reported that Meta employees were finding it hard to use the flagship VR Metaverse app. The executives in charge said they struggled to use the app.

Previously, Mark Zuckerberg wanted to implement the use of Horizon Worlds, saying that the people developing the metaverse should also use them. This, however, was hard for the executives in charge as they said that the app was too buggy for them to use.

See flow at unusualwhales.com/flow.

Other News:

• Meta Targets 500K Monthly Active Users for Horizon Worlds by Year End but Reports Less than 200K Despite $15B Spending
• Meta Employees Find Flagship VR Metaverse App too Buggy to Use, Says Exec in Charge

Resources:

CNBC

Piper Sandler

Seeking Alpha

IDC