How does Meta print?
Almost all ads. Reality Labs spends. The apps collect the attention.
Feed and Reels sell attention. The headset is a cost center with a long bet.
The mix
- Family of apps adsFB, IG, WhatsApp, Threads.97%
- Reality Labs / otherHardware, not the profit.3%
Meta 10-K. Ads are the book.
Who pays
Advertisers on FB, IG, WhatsApp, Threads.
Who builds
Feed ranking, ads, and Reality Labs. Product and ML are the spine.
