Meta Is Talking Exclusive VR Content With Disney, Other Hollywood Studios As It Prepares To Launch Its Apple Vision Pro Rival: Report

Meta Platforms, Inc. META is reportedly making a big push for exclusive content in preparation for the launch of its new premium virtual reality headset next year, which aims to compete with Apple Inc.'s AAPL Vision Pro.

What Happened: Meta is in talks with major entertainment companies like Walt Disney Co. DIS, A24 and other smaller production studios to secure exclusive immersive content for its upcoming VR device, reported the Wall Street Journal on Wednesday, citing people familiar with the matter.

The company is offering millions of dollars for episodic and standalone videos based on popular intellectual properties.

Meta hopes this content will help draw users to its new headset, internally known as "Loma," which is expected to feature higher-fidelity video and a design similar to Meta's Ray-Ban AI glasses.

The device is expected to be priced under $1,000, a more affordable option compared to the $3,500 Vision Pro.

Why It's Important: Apple did not pay entertainment companies for content to support the launch of its Vision Pro headset. Instead, it created its own exclusive immersive experiences, such as a concert featuring The Weeknd.

However, high pricing, the device's weight and a shortage of compelling new apps have led to underwhelming sales.

Meanwhile, Meta has been heavily investing in virtual reality for over ten years. Its Quest headsets—developed after the company acquired Oculus in 2014—remain the top sellers in the VR market, although they've yet to achieve widespread adoption, the report added.

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Meta's smart Ray-Ban glasses, which incorporate AI features, have begun to resonate with consumers. As of February, Meta had sold two million units since their debut in 2021, according to EssilorLuxottica, the eyewear firm collaborating on the product.

All these products fall under Meta's Reality Labs division, which focuses on virtual and augmented reality. The unit posted a $17.7 billion loss last year on $2.1 billion in revenue, the report said.

Price Action: Meta's shares have risen 14.80% so far this year. At the time of writing, the stock was trading at $688.34 in after-hours, reflecting a slight increase of 0.057%, based on data from Benzinga Pro.

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