According to the Wall Street Journal, Meta has lowered its goal of reaching 500,000 active users per month to 280,000 from its previous target of 500,000, as the current levels of users fall below 200,000.
According to a survey, players said that they struggled to find worlds they like, could not find friends to play with and that avatars seemed unrealistic.
Horizon Worlds, Meta’s virtual reality social media platform, was originally designed to have 500,000 monthly active users. The company is currently revising that number to 280,000 because of the challenges it faces in growing its user base.
According to internal memos and documents obtained from the Wall Street Journal, the number of active users is currently below 200,000.
Many users have left the platform since the spring as a result of declining user activity. Only 9% of worlds are visited by players who remain, with some sites seeing as many as 50 visitors. The vast majority of digital destinations remain unexplored.
According to sources, Meta’s Quest VR headsets that players use for Horizon saw a decrease in usage. Sources said that $400 consoles had a declining retention rate over the past three years.
According to sources familiar, Horizon is also far behind other platforms offering virtual social experiences such as VR Chat (launched in 2014) and Second Life (launched in 2003).
Meta shares have fallen over 60% in the last year. The company currently trades for $126.76. The company’s market value has fallen by more than $700 billion since its peak in September 2021.
