The company plans to spend even more in subsequent years.
During Facebook’s Q3 2021 earnings call, Facebook's CEO Mark Zuckerberg claimed that the company expects its XR investments this year to surpass $10 billion and commented that it plans to spend even more in 2022 and beyond. Facebook Reality Labs (FRL), the company’s XR and metaverse division, is believed to be a transformative computing platform by Facebook's superiors, and the strategy of investing billions of dollars into it is meant to give the company a head start.
Facebook also said that it planned to change its future financial reporting to more granularly detail the aggressive investments into FRL. The company says it hopes this change will “provide investors with additional visibility into the investments that we’re making in augmented and virtual reality.”