Now it is no surprise that the coronavirus has affected the market terribly. The Oculus sales have seen their massive dips and there is no sign of any skyrocketed sales as of yet. So every company, be it big or small, is affected terribly.
Their sales have gone down. And similar fate struck Facebook. Its sales went down and the demand for advertising on Facebook was very low. But this isn’t a bummer. However, the good news is that there is something that has shown progress at this time. And that is the virtual reality business.
There is no denial of the fact that virtual reality is about tomorrow. So this growth is going to be very beneficial and there is so much to know about this. Stick around to find out about it.
What Has Happened?
The advertising from the firm has shot down. But the non-advertising revenue is doing surprisingly well. It rose to 80% this year from $165 million to a whopping $297 million. isn’t that surprising?
But this growth is led largely by the products of Oculus. And this is what is most shocking. The Oculus hardware and software sales have brought the company to this feet. So it is amazing.
This was unexpected in this time of coronavirus. But the fact that this has happened has left insights into many things.
More About It (Oculus)
It is indeed shocking that the sales have risen so much that the manufacturers couldn’t pace with it. But the coronavirus has also in turn been beneficial for VR products. People are stuck inside homes so they are turning to forms of digital entertainment for fun.
So now that this is happening, they have turned to VR products and that is why Oculus is at a solid benefit. And this has helped Facebook’s revenue greatly. It has been one of the major contributors to Facebook.
Other Possible Causes For This Rise
They are running out of stock of the products and the firm wished to have made more of it. The manufacturers are at a solid pace to beat the sales but it seems hard enough.
There are also other reasons for the improvement in sales. And we think that Valve’s Half-Life: Alyx might have helped it as well. So these factors might have helped the growth of the products.