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Facebook has 'dramatically' increased VR spending, and it won't stop

Facebook will be pumping billions into VR, and has a 'sustained commitment' from the company for the next 10 years or more

Anthony Garreffa | Sep 28, 2015 at 10:33 am CDT (1 min, 16 secs time to read)

After spending $2 billion acquiring Oculus early last year, Facebook has just announced it has "dramatically" increased its investment into virtual reality, where it will spend even more money on VR over the next decade.

Facebook has 'dramatically' increased VR spending, and it won't stop | TweakTown.com

Facebook CTO Mike Schroepfer spoke with the Financial Times during the Oculus Connect developer conference in LA last week, where he said: "We are investing more year over year... We've got a multiyear plan for this worked out over a fairly long time horizon". Schroepfer didn't state a specific number, but he did say that Facebook will spend hundreds of millions of dollars bringing the Rift to the market, and over the coming years, it will turn into billions of dollars.

Facebook founder and CEO Mark Zuckerberg said that he thinks VR will become a dominant communications and entertainment technology (something we totally agree with) and that the early Rift sales will increase "slowly" when it launches early next year. Schroepfer added: "When we started to get engaged in this, the big conversation we had was that this is going to take a long time and it will require a sustained commitment from us over many years, more like a decade, to really see this through and solve all the technical, content or artistic problems we need to solve. But if we can do this, it's going to be the most interesting thing we're ever going to work on".

Last updated: Apr 6, 2020 at 08:32 pm CDT

NEWS SOURCE:ft.com
Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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