Meta Attempts To Expand Its Metaverse's User Coverage To Attract And Retain Users Versus Rivals - Meta Platforms (NASDAQ:META)

Meta Platforms, Inc META revamped its fledgling Horizon Worlds metaverse app to draw in more teen and young-adult users, according to an internal memo.
Meta aimed to expand metaverse coverage by extending it to teens aged 13 to 17, below the current age group of 18 and older, the Wall Street Journal reports.
Meta eyed a teen launch for Horizon by March.
In the memo titled “Horizon 2023 Goals and Strategy,” Meta Vice President of Horizon Gabriel Aul outlined the team’s objectives for the first half of 2023, with the top task being to improve user retention, particularly among teens and young adults.
“Today, our competitors are doing a much better job meeting the unique needs of these cohorts,” Mr. Aul said in the memo. “For Horizon to succeed, we need to ensure that we serve this cohort first and foremost.”
“Teens are already spending time in a variety of VR experiences on Quest, and we want to ensure that we can provide them with a great experience in Horizon Worlds as well, with age-appropriate tools and protections in place,“ Meta spokesman Joe Osborne said.
In 2022 alone, the company spent $15.9 billion in costs and expenses for its Reality Labs division.
Horizon failed to retain users due to a lack of experience or fellow gamers after downloading the game on their Quest virtual-reality headsets.
Horizon aimed to increase the weekly retention rate from 11% to 20%.
More players help light up the service’s various worlds and keep them from feeling like ghost towns.
Returning players is also crucial to build social communities that will draw players back into the service.
Meta has identified working with outside studios to build new worlds and experiences for Horizon as a vital part of its strategy for improving user growth and retention.
Price Action: META shares traded lower by 0.50% at $185.13 on the last check Tuesday.

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