Much has been made of the dramatic drop for the stock of Facebook owner Meta Platforms after a comparatively weak earnings report and outlook.
A record quarter trillion dollars in market value was wiped away in a single session and the stock has fallen further since then.
But is Meta going to zero?
Are the billions the company is spending to be a pioneer in the metaverse being wasted?
Many long-term technology thinkers don’t believe so.
Meta has the chance to convert some skeptics this weekend during and after the Super Bowl.
The company is planning to make a big splash.
Here are the hi-lights of what’s expected courtesy of Matthew Olson of The Information.
Broadcaster NBC said that some of its Super Bowl 30-second spots sold for up to $7 million, setting a new record for what’s routinely the most-watched U.S. sports event.
And this Sunday’s game is poised to include some of the biggest advertising pushes for immersive tech yet.
Pepsi will integrate Augmented Reality (AR) features as part of its sponsored half-time show, as it has done in the past.
In addition, Meta will run a 60-second spot serving both as an ad for the Quest 2 and for Horizon Worlds during the first quarter.
And after the game, Meta will host a live virtual reality (VR) event in its Horizon Venues app. It’s likely the most expensive run of ads for VR to date.
For Meta, the ads are an opportunity to get more consumers and advertisers on board with the company’s new direction at a critical moment.
- The minute-long ad will feature a cast of characters that convene together at a restaurant called “Questy’s” built in Horizon Worlds.
- This will mark the first time Meta has run ads focused on Worlds following the platform’s expansion to an open beta for users 18 and older in the U.S. and Canada.
- Users will be able to visit a version of the “Questy’s” restaurant in Horizon Worlds, which makes the campaign a key test for Meta and its future VR ads strategy.
- If Meta can point to the ad driving usage of Horizon Worlds, brands might be more inclined to start putting money into Worlds.
- A free Foo Fighters concert will be hosted in Meta’s Horizon Venues VR app at 8pm P.T., or immediately post-game.
- Meta regularly hosts musical performances, e-sports events, comedy shows and even airs free NBA games in Venues, but this particular concert will likely be the biggest event Meta has booked for Venues yet.
Meta has not disclosed how much it is paying to put on the Foo Fighters show, but it probably isn’t coming cheap.
Wisely, Meta won’t be shutting out viewers if they don’t own a VR headset.
The Foo Fighters concert will also be broadcast across Facebook, Instagram and Messenger, which could mean it will effectively be pulling double-duty as both an ad for Meta’s VR products and as a perk for those who’ve already spent money on the company’s headsets.