Meta Platforms, Inc. (META): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage dynamique de l'innovation numérique, Meta Platforms, Inc. apparaît comme une force transformatrice, remodelant la façon dont les milliards se connectent, communiquent et éprouvent des domaines numériques. En tirant stratégiquement un modèle commercial complexe qui couvre les médias sociaux, la publicité, la réalité virtuelle et les technologies émergentes, Meta a construit un écosystème multiforme qui génère 116,6 milliards de dollars en revenus annuels. Cette toile complexe révèle une approche sophistiquée pour monétiser les interactions numériques mondiales, où l'intelligence artificielle de pointe, les réseaux d'utilisateurs massifs et les expériences technologiques immersives convergent pour créer une valeur sans précédent sur le marché numérique.

Meta Platforms, Inc. (META) - Modèle d'entreprise: partenariats clés

Partenariats stratégiques de service cloud

Meta Plateformes collabore avec Amazon Web Services (AWS), AWS prenant en charge environ 80% des exigences d'infrastructure cloud de Meta. Le partenariat implique un accord pluriannuel d'une valeur de 2,25 milliards de dollars signés en 2022.

Fournisseur de cloud	Valeur du contrat	Couverture des infrastructures
Services Web Amazon	2,25 milliards de dollars	80%

Partenariats de connectivité des télécommunications

Meta a établi des partenariats stratégiques avec les grandes entreprises de télécommunications dans le monde.

• Verizon Communications
• AT&T
• Deutsche Telekom
• Téléfónica

Partenariats de réseaux publicitaires

Meta collabore avec plusieurs réseaux publicitaires et fournisseurs de données, générant environ 116,6 milliards de dollars de revenus publicitaires en 2022.

Type de partenaire	Nombre de partenaires	Impact sur les revenus
Fournisseurs de données tiers	250+	116,6 milliards de dollars

Créateur de contenu et partenariats de production médiatique

Meta a établi des partenariats avec de nombreux créateurs de contenu et studios de production de médias.

• Netflix
• Disney
• Discovery Warner Bros.
• Créateurs YouTube

Partenariats technologiques et matériels pour l'écosystème AR / VR

Meta collabore avec plusieurs fabricants de matériel pour Oculus et Metaverse Technologies.

Partenaire matériel	Focus technologique	Investissement
Qualcomm	Développement des puces AR / VR	10 millions de dollars
Microsoft	Plates-formes de réalité mixte	5 millions de dollars

Meta Platforms, Inc. (META) - Modèle d'entreprise: Activités clés

Développement et maintenance des plateformes de médias sociaux

Meta a investi 42,8 milliards de dollars dans la recherche et le développement en 2023. Statistiques sur la base des utilisateurs de la plateforme:

Plate-forme	Utilisateurs actifs mensuels
Facebook	2,96 milliards
Instagram	2,04 milliards
Whatsapp	2,78 milliards

Advanced Machine Learning and IA Research

La division de recherche Meta AI emploie plus de 15 000 chercheurs et ingénieurs. Investissements clés de l'IA:

• 13,7 milliards de dollars alloués à la recherche sur l'IA en 2023
• Plus de 200 publications de recherche sur l'IA par an
• Développement de grands modèles de langue comme Llama

Innovation de technologie de publicité numérique

Répartition des revenus publicitaires:

Segment publicitaire	Revenus de 2023
Publicités Facebook	131,9 milliards de dollars
Annonces Instagram	43,6 milliards de dollars

Développement de produits de réalité virtuelle et augmentée

Investissement de méta-réalité:

• 10,5 milliards de dollars dépensés pour le développement VR / AR en 2023
• Le casque Meta Quest 3 VR lancé
• Développement continu des technologies de métaverse

Infrastructure mondiale et optimisation du réseau

Détails de l'investissement des infrastructures:

Catégorie d'infrastructure	2023 dépenses
Centres de données	35,2 milliards de dollars
Infrastructure réseau	22,6 milliards de dollars

Meta Platforms, Inc. (META) - Modèle d'entreprise: Ressources clés

Base de données utilisateur massive et graphique social

Au quatrième trimestre 2023, Meta a rapporté 3,07 milliards d'utilisateurs actifs mensuels dans sa famille d'applications (Facebook, WhatsApp, Instagram, Messenger).

Plate-forme	Utilisateurs actifs mensuels (Q4 2023)
Facebook	2,11 milliards
Whatsapp	2 milliards
Instagram	2 milliards
Messager	1,3 milliard

Capacités avancées d'IA et d'apprentissage automatique

Meta a investi 40 milliards de dollars dans la recherche et le développement de l'IA en 2023.

• Équipe de recherche sur l'IA: plus de 15 000 chercheurs et ingénieurs de l'IA
• Infrastructure AI: 350 000 GPU NVIDIA H100 déployé
• Formation du modèle AI: Meta AI Modèle de langue grande avec 65 milliards de paramètres

Infrastructure technologique étendue

L'infrastructure du centre de données de META s'étend sur 18 emplacements mondiaux avec 5,5 millions de pieds carrés d'espace de centre de données.

Composant d'infrastructure	Quantité / spécification
Centres de données	18 emplacements mondiaux
Espace total du centre de données	5,5 millions de pieds carrés
Investissement annuel sur les infrastructures	35 à 40 milliards de dollars

Pool de talents mondiaux d'ingénieurs et de chercheurs

Meta emploie 71 469 employés à temps plein au 31 décembre 2023.

• Travail d'ingénierie: 45% du total des employés
• Employés de la recherche et du développement: 22 000
• Bureaux mondiaux: 24 pays

Portfolio de propriété intellectuelle solide

Meta détient plus de 7 500 brevets actifs en 2023.

Catégorie IP	Nombre de brevets
Brevets actifs totaux	7,500+
Brevets d'IA et d'apprentissage automatique	2,300+
Brevets de réalité virtuelle / augmentée	1,500+

Meta Platforms, Inc. (META) - Modèle d'entreprise: propositions de valeur

Connectivité sociale gratuite sur plusieurs plateformes

Les plates-formes de Meta, notamment Facebook, Instagram, WhatsApp servent 3,19 milliards d'utilisateurs actifs quotidiens au 423. Total des utilisateurs actifs mensuels sur toutes les plateformes: 3,98 milliards.

Plate-forme	Utilisateurs actifs mensuels	Utilisateurs actifs quotidiens
Facebook	2,11 milliards	1,98 milliard
Instagram	2,04 milliards	1,39 milliard
Whatsapp	2,78 milliards	869 millions

Expériences de publicité numérique personnalisée

Méta générée 131,93 milliards de dollars dans les revenus publicitaires en 2023. Le prix publicitaire moyen a diminué de 3% en glissement annuel.

Environnements de réalité virtuelle immersive

La division des laboratoires de méta-réalité a investi 16,15 milliards de dollars Dans le développement de Metaverse en 2023. Quest VR Les ventes du casque ont atteint 20 millions d'unités.

Outils de communication avancés

• WhatsApp prend en charge plus de 2 milliards d'utilisateurs de messagerie
• Facebook Messenger compte 1,3 milliard d'utilisateurs actifs mensuels
• Plateforme de messagerie Instagram avec 1,22 milliard d'utilisateurs

Opportunités mondiales de construction communautaire et de réseautage

Meta Plateformes connecte les utilisateurs dans plus de 200 pays. L'écosystème des groupes Facebook comprend plus de 1,8 milliard de participants au groupe actif mensuel.

Meta Platforms, Inc. (META) - Modèle d'entreprise: relations avec les clients

Systèmes de support client automatisé

Le système de support automatisé de META gère environ 95% des demandes d'utilisateurs initiales via des chatbots alimentés par l'IA et des systèmes de réponse algorithmique.

Canal de support	Taux de résolution	Temps de réponse moyen
Centre d'aide Facebook	87.3%	12 minutes
Support Instagram	82.6%	15 minutes
Support WhatsApp	91.2%	8 minutes

Caractéristiques d'engagement axées sur la communauté

Les plates-formes de Meta accueillent 3,07 milliards d'utilisateurs actifs mensuels à travers son écosystème.

• Groupes Facebook: 1,8 milliard de participants au groupe actif mensuel
• Facebook Marketplace: 1 milliard d'utilisateurs actifs mensuels
• Communautés Instagram: 500 millions d'utilisateurs actifs quotidiens

Mises à jour et améliorations continues de la plate-forme

Meta investit 10,4 milliards de dollars par an dans la recherche et le développement pour les améliorations de la plate-forme.

Plate-forme	Mettre à jour la fréquence	Ajouts des fonctionnalités annuelles
Facebook	Bihebdomadaire	78 nouvelles fonctionnalités
Instagram	Mensuel	52 nouvelles fonctionnalités
Whatsapp	Trimestriel	24 nouvelles fonctionnalités

Algorithmes d'expérience utilisateur personnalisés

Les algorithmes de recommandation de Meta traitent plus de 500 téraoctets de données par jour pour personnaliser les expériences des utilisateurs.

• Précision de la pertinence du contenu: 92,4%
• Augmentation de l'engagement des utilisateurs grâce à la personnalisation: 37%
• Modèles d'apprentissage automatique: 15 000+ modèles actifs

Centres d'aide en libre-service et forums d'utilisateurs

Meta fournit un support en libre-service complet sur plusieurs plateformes.

Centre d'aide	Visiteurs mensuels	Taux de résolution d'émission
Centre d'aide Facebook	250 millions	79.5%
Aide Instagram	150 millions	72.3%
Forums de méta-communauté	100 millions	68.7%

Meta Platforms, Inc. (META) - Modèle d'entreprise: canaux

Applications mobiles

META exploite plusieurs applications mobiles avec la base d'utilisateurs suivante au T4 2023:

Application	Utilisateurs actifs mensuels
Facebook	2,11 milliards
Instagram	2 milliards
Whatsapp	2,78 milliards
Messager	1,3 milliard

Plates-formes Web

Les plates-formes Web de Meta comprennent:

• Facebook.com
• Instagram.com
• Whatsapp web

Oculus / Meta Quest Devices

Ventes et métriques de l'appareil Meta Quest:

• Meta Quest 2 a vendu plus de 15 millions d'unités
• Meta Quest 3 a été lancée en octobre 2023 à 499,99 $
• Part de marché de la réalité virtuelle: 90% en 2023

Intégrations tierces

Type d'intégration	Nombre de plateformes
API du développeur	Plus de 200 000 développeurs actifs
Plateformes de messagerie commerciale	Plus de 250 millions de comptes d'entreprise

Marketing numérique direct

Revenus publicitaires numériques au quatrième trimestre 2023: 40,96 milliards de dollars

Segment publicitaire	Revenu
Publicités Facebook	31,7 milliards de dollars
Annonces Instagram	9,26 milliards de dollars

Meta Platforms, Inc. (META) - Modèle d'entreprise: segments de clientèle

Utilisateurs mondiaux des médias sociaux

Au quatrième trimestre 2023, Meta a rapporté 3,19 milliards d'utilisateurs actifs quotidiens dans sa famille d'applications (Facebook, Instagram, WhatsApp).

Plate-forme	Utilisateurs actifs mensuels (Q4 2023)
Facebook	2,11 milliards
Instagram	2,04 milliards
Whatsapp	2,0 milliards

Annonceurs numériques

Meta a généré 86,46 milliards de dollars de revenus publicitaires en 2023.

• La publicité représente 97,5% des revenus totaux de Meta
• Le prix publicitaire moyen a diminué de 3% en 2023
• Plus de 10 millions d'annonceurs actifs sur Facebook

Antariens technologiques

Meta a investi 13,7 milliards de dollars dans la recherche et le développement en laboratoires de réalité en 2023.

Consommateurs de réalité virtuelle

Ventes de casque Meta Quest VR	Volume
Méta quête 2	15 millions d'unités
Méta quête 3	Estimé 1 million d'unités au quatrième trimestre 2023

Petites et moyennes entreprises

• 200 millions d'entreprises utilisent des outils gratuits de META
• Plus de 90 millions de petites entreprises ont des pages Facebook
• Environ 35% des petites entreprises annoncent activement des plates-formes Meta

Meta Platforms, Inc. (META) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

En 2023, Meta Plateformes a dépensé 40,5 milliards de dollars pour la recherche et le développement, représentant un investissement important dans l'innovation technologique.

Année	Dépenses de R&D (milliards USD)
2021	$36.4
2022	$39.1
2023	$40.5

Maintenance des infrastructures

Les dépenses en capital de META pour la maintenance des infrastructures ont totalisé 32,7 milliards de dollars en 2023, en se concentrant sur les centres de données et les infrastructures réseau.

• Coûts de construction du centre de données: 23,4 milliards de dollars
• Investissements d'infrastructure de réseau: 9,3 milliards de dollars

Modération et sécurité du contenu

La méta a alloué environ 5,2 milliards de dollars aux efforts de modération du contenu et de cybersécurité en 2023.

Catégorie de dépenses de sécurité	Coût (millions USD)
Modération du contenu	$3.7
Infrastructure de cybersécurité	$1.5

Marketing et acquisition d'utilisateurs

Les frais de marketing pour Meta en 2023 ont atteint 14,6 milliards de dollars, en mettant l'accent sur l'acquisition des utilisateurs et la promotion de la plate-forme.

• Publicité numérique: 10,2 milliards de dollars
• Marketing de marque: 2,8 milliards de dollars
• Campagnes d'acquisition d'utilisateurs: 1,6 milliard de dollars

Recrutement et rétention des talents

Les dépenses totales du personnel pour la méta en 2023 étaient de 54,6 milliards de dollars, y compris les salaires, les prestations et la rémunération en actions.

Catégorie de dépenses	Coût (milliards USD)
Salaires de base	$36.2
Compensation en stock	$12.4
Avantages et autres rémunérations	$6.0

Meta Platforms, Inc. (META) - Modèle commercial: Strots de revenus

Revenus publicitaires numériques

Au quatrième trimestre 2023, les revenus publicitaires totaux de Meta étaient de 40,96 milliards de dollars. La publicité représente 97,5% des revenus totaux de l'entreprise.

Segment publicitaire	Revenus (Q4 2023)
Facebook	23,14 milliards de dollars
Instagram	12,37 milliards de dollars
Réseau d'audience	1,85 milliard de dollars

Ventes de matériel de réalité virtuelle

Les ventes du casque Meta Quest VR ont atteint environ 1,5 milliard de dollars en 2023.

Outils de communication d'entreprise

La plate-forme de communication d'entreprise de Meta, Workplace, a généré environ 200 millions de dollars de revenus récurrents annuels.

Frais de transaction du marché

Le marché de Meta a généré environ 500 millions de dollars de frais de transaction en 2023.

Ventes d'actifs numériques liées au métaverse

Horizon Worlds Digital Asset Sales and Virtual Goods Revenue était d'environ 50 millions de dollars en 2023.

Flux de revenus	Pourcentage du total des revenus
Publicité numérique	97.5%
Matériel de réalité virtuelle	1.2%
Autres sources de revenus	1.3%

Meta Platforms, Inc. (META) - Canvas Business Model: Value Propositions

You're looking at the core value Meta Platforms, Inc. delivers across its distinct customer groups as of late 2025. It's a story of massive scale meeting AI-driven precision, with a massive, long-term bet on the next computing platform.

For Users: Free, personalized social connection and content discovery across multiple platforms.

The value here is sheer, daily connectivity, woven into the fabric of billions of lives. The scale is almost unparalleled.

• Family daily active people (DAP) for September 2025: 3.54 billion.
• Family of Apps Monthly Active People (MAP) as of Q1 2025: 3.98 billion.
• Daily usage rate (Q1 2025): 84.17% of MAP use at least one platform daily.
• Daily active users across Facebook, Instagram, WhatsApp, and Messenger reached 3.48 billion in June 2025.
• Facebook Monthly Active Users: 3.07 billion.
• Instagram Monthly Active Users: 2 billion.
• WhatsApp Monthly Active Users: 2 billion.
• Threads Monthly Active Users (Q1 2025): 350 million.
• Time spent on Facebook and Instagram in the US grew double digits year-over-year in Q3 2025.
• Reels account for 50% of all time spent on Instagram.
• 3.5 billion Reels are shared daily across Facebook and Instagram.
• Meta AI had roughly 700 million monthly active users in January 2025.

For Advertisers: Unmatched scale and precise ad targeting for high ROI via AI tools.

Advertisers get access to this massive audience with tools that are increasingly powered by advanced AI to ensure their spend works harder. The core business engine is accelerating.

Metric	Value (Q3 2025 or Latest)	Context
Family of Apps Revenue	$50.77 billion	Q3 2025 revenue for the ad-driven segment.
Advertising Revenue	$50.08 billion	Q3 2025 advertising revenue, representing 97.7% of total revenue.
Ad Impressions Growth (YoY)	14%	Q3 2025 growth in ads delivered across services.
Average Price Per Ad Growth (YoY)	10%	Q3 2025 increase, benefiting from advertiser demand.
AI Ad Tools Annual Run Rate	Passed $60 billion	Annualized run rate for completely end-to-end AI-powered ad tools as of end of Q3 2025.
Instagram ARPU (US)	$223 per user	Significantly higher than Facebook's US ARPU of $191.
Active Businesses	Over 10 million	Businesses actively using Meta's advertising platforms.

The AI improvements are translating directly to advertiser results; for example, the new AI-powered recommendation model improved ad conversions by 5% on Instagram and 3% on Facebook in Q2 2025.

For Developers: A large, established platform for building and monetizing social and immersive apps.

The value proposition here is access to the largest pool of engaged users globally, which is the essential ingredient for any social or immersive application seeking scale.

• The total Family of Apps user base (MAP) is nearly 4 billion monthly users.
• The daily engaged user base (DAP) is over 3.5 billion people.

For Reality Labs Users: Immersive VR/AR experiences and hardware (e.g., Quest, Ray-Ban Meta smart glasses).

This segment offers access to next-generation computing hardware and experiences, though it currently operates at a significant investment level.

Reality Labs Revenue (Q3 2025)	$470 million
Reality Labs Operating Loss (Q3 2025)	$4.43 billion
Estimated Full Year 2025 Revenue	$2.2 billion
Estimated Full Year 2025 Expenses	$21 billion
Estimated Full Year 2025 Net Loss	Roughly $18.5 billion
Cumulative Operating Losses (Since 2020)	Over $60 billion

The division ships 73% of all VR headsets worldwide, indicating a leading position in hardware adoption for the emerging immersive space.

Finance: draft 13-week cash view by Friday.

Meta Platforms, Inc. (META) - Canvas Business Model: Customer Relationships

You're looking at how Meta Platforms, Inc. keeps its massive user and advertiser base engaged and loyal. It's a multi-pronged approach, balancing automation for the masses with high-touch service for the biggest spenders, all while fueling an external developer community.

Automated Service: Primarily self-service advertising tools and AI-driven support

The core relationship with the vast majority of advertisers is entirely automated. This self-service model is what allows Meta Platforms to scale its advertising business efficiently. In the third quarter of 2025, Meta Platforms brought in $50 billion from ads, which was a 26% year-over-year increase. This scale is only possible because advertisers manage their own campaigns through intuitive tools.

The automation is heavily powered by AI, which directly impacts advertiser satisfaction and efficiency. For instance, Meta Platforms reports that over 4 million advertisers now use its generative AI ad creative tools. Furthermore, AI-driven campaigns require 62% less management time while delivering 28% better performance. The platform's core engine is constantly optimizing delivery; ad impressions across the Family of Apps rose 14% year-over-year in Q3 2025, while the average price per ad grew 10% in the same period.

The consumer side also relies on automation through the integrated Meta AI assistant. By the end of the first quarter of 2025, Meta AI reached nearly 1 billion Monthly Active Users (MAU) across its platforms.

Community-driven: Fostering user-to-user interaction and content creation

For users, the relationship is built on fostering interaction and content creation, which drives the engagement that advertisers pay for. The Family of Apps had 3.54 billion daily active people (DAP) on average for September 2025. This massive, interconnected base is a key relationship asset.

Content formats that drive deep engagement are central to this strategy. Reels account for 50% of all time spent on Instagram, and users share 3.5 billion Reels daily across Facebook and Instagram. The stickiness of the ecosystem is measurable: users active on multiple Meta platforms spend an average of 63 minutes daily across the ecosystem, significantly more than the 37 minutes spent by users active on only one platform. Instagram alone reached 3 billion monthly users.

The relationship is reinforced by platform overlap:

• 77.9% of Facebook users also use Instagram.
• 73.6% of Facebook users also use WhatsApp.
• The company is expanding ad surfaces to new community areas, like rolling out ads to Threads and WhatsApp's Updates tab.

Dedicated Sales Teams: Managed relationships with large, strategic advertisers

While self-service handles the long tail, the largest advertising relationships require dedicated human interaction. These managed relationships focus on the top-tier advertisers who drive significant spend and require custom solutions, integration support, and strategic planning across Meta Platforms' entire suite of products.

The sheer scale of the advertising revenue implies a substantial managed segment. Total revenue for Meta Platforms in Q3 2025 was $51.24 billion, with the vast majority still coming from ads. The company's Q3 2025 ad revenue was reported at $50 billion. The dedicated teams manage the relationships that contribute to these massive figures, ensuring high-value, complex advertising commitments are secured and optimized.

Here's a look at the geographic scale these teams manage, which informs their structure:

Region	Estimated Q3 2025 Ad Revenue (Billions USD)	Estimated Year-over-Year Growth
United States and Canada	$21.7	24.8%
Europe	$11.65	24.5%
Asia-Pacific	$9.66	20%
Rest of the World	$6.37	25.1%

The teams focus on these high-value regions to maintain growth in average price per ad, which increased by 10% in Q3 2025.

Open-source AI: Engaging the developer community with models like Llama

Meta Platforms actively cultivates a relationship with the developer ecosystem through its open-weight Llama models, treating developers as crucial partners in validating and expanding its AI capabilities. This engagement is a strategic counterpoint to closed models.

The developer community's adoption is substantial. There have been over 1.2 billion downloads of Llama models. This engagement supports the development of the consumer-facing Meta AI assistant, which is built on the Llama family and has adopted Llama 4 variants.

The developer catalog is diverse, offering models tailored for different needs:

• Llama 3.1 405B parameter model is available for research and hosting.
• Llama 3.2 includes vision models at 11B and 90B parameters.
• Smaller models like Llama 3.3 70B are distributed for strong chat performance.

The Llama models are released under Meta's community licenses, which are broadly usable for commercial apps within the stated terms. This strategy aims to make Llama the scaffolding for a new era of AI development. Finance: review Q4 2025 CapEx forecast against R&D spend of $48.45 billion for the twelve months ending June 30, 2025.

Meta Platforms, Inc. (META) - Canvas Business Model: Channels

You're looking at how Meta Platforms, Inc. gets its products and services into the hands of billions of users and, crucially, how it gets its advertising messages in front of them. The channel strategy is dominated by its core software, but the emerging hardware segment requires a distinct retail approach.

Family of Apps: Facebook, Instagram, WhatsApp, and Threads

The primary distribution channel is the Family of Apps itself, which serves as the direct conduit for content, communication, and advertising inventory. This massive installed base is the foundation of Meta Platforms, Inc.'s entire operation.

For September 2025, the average number of Family daily active people (DAP) hit 3.54 billion, showing an 8% year-over-year increase. This scale is what allows the advertising engine to function at its current level.

Here's a quick look at the Q3 2025 performance metrics that flow through these channels:

Metric	Q3 2025 Value	Year-over-Year Change
Family of Apps Revenue	$50.77 billion	26% increase
Advertising Revenue	$50.1 billion	26% increase
Total Ad Impressions Served	N/A (Percentage)	14% increase
Average Price Per Ad	N/A (Percentage)	10% increase
Other Revenue (e.g., Verified)	$690 million	59% increase

While Meta Platforms, Inc. doesn't break out DAP by individual app, we know Threads is a significant growth contributor; its monthly active users surpassed 400 million as of August 2025. The sheer volume of activity dictates the channel strategy.

• Facebook and Instagram remain the core advertising inventory drivers.
• WhatsApp's paid messaging revenue is a growing component of the $690 million in other revenue.
• Threads is leveraging the existing distribution of the Family of Apps for rapid scale.

Meta Business Suite: Direct Interface for Advertisers

The Meta Business Suite acts as the direct digital storefront for advertisers and small businesses to access the inventory distributed across the Family of Apps. This is where the commercial transaction is managed, translating user engagement into revenue.

The success of this channel is evident in the advertising revenue figures, which reached $50.1 billion in Q3 2025, representing about 97% of the total revenue for the quarter. The 14% year-over-year jump in ad impressions shows advertisers are successfully using this suite to place their messages.

Key elements of this direct channel include:

• AI-driven ad delivery systems enhancing relevance for advertisers.
• Tools that allow for campaign automation and scaling.
• Integration points for new formats like short-form video monetization.

Reality Labs Store: Hardware Distribution

For the Reality Labs segment, the channel shifts to physical and digital retail for hardware like Quest headsets and the Ray-Ban Meta smart glasses. This is a classic product distribution model, albeit one that is currently loss-making.

Q3 2025 saw Reality Labs revenue hit $470 million, a 74% increase year-over-year, largely due to retailers stocking up for the holiday season. The operating loss for the division in that quarter was $4.432 billion, showing the investment required to build this channel.

Hardware distribution specifics include:

• Online and third-party retail placement for Quest VR devices.
• The Ray-Ban Display AI glasses, priced at $799 with an EMG wristband, are distributed through eyewear channels.
• Plans to ship fully AR-enabled glasses to developers next year for a targeted 2027 retail launch.

App Stores: Mobile Gatekeepers

The mobile apps-Facebook, Instagram, WhatsApp, and Threads-rely on the Apple App Store and Google Play Store for initial download and ongoing updates. This represents a critical, yet external, channel dependency.

While Meta Platforms, Inc. does not disclose the exact fees paid to these gatekeepers, the sheer scale of the 3.54 billion DAP base means the transaction fees on in-app purchases (like Meta Verified subscriptions) and any hardware sales made through the apps are substantial. The company's overall capital expenditure guidance for 2025 is set between $70 billion and $72 billion, reflecting the massive infrastructure spend needed to support the software distributed through these stores.

The reliance on these stores means:

• Mandatory adherence to platform rules for app distribution.
• A percentage of revenue from subscriptions and digital goods is ceded.
• The mobile OS providers control the primary entry point for most users.

Meta Platforms, Inc. (META) - Canvas Business Model: Customer Segments

You're looking at the core groups that fuel the massive engine of Meta Platforms, Inc. as of late 2025. It's a mix of the everyday user and the high-spending enterprise, all interconnected by the company's platforms.

Global Consumers

This segment is the foundation, the sheer scale of people using the Family of Apps-Facebook, Instagram, WhatsApp, Messenger, and Threads. You see the scale in the latest figures; for September 2025, the Family daily active people (DAP) averaged 3.54 billion. That's a solid 8% year-over-year increase in daily engagement. To put that in perspective, as of Q1 2025, the Family Monthly Active People (MAP) was reported at 3.98 billion. It's a massive, sticky audience, and the growth continues even at this size, partly fueled by newer entrants like Threads, which hit 150 million daily users in Q3 2025.

The consumer base isn't just about social networking anymore; it's about utility and new AI interaction. Consider these engagement snapshots:

• Instagram now counts 3 billion monthly active users.
• Meta AI has surpassed 1 billion monthly users.
• Facebook alone had over 3 billion monthly active users as of Q1 2025.
• The daily usage rate across the Family of Apps was an extraordinary 84.17% of Monthly Active People as of Q1 2025.

The sheer volume of daily interaction is what makes the advertising proposition so compelling for businesses.

Small and Medium Businesses (SMBs)

SMBs are the lifeblood of the self-service advertising side. They rely on the intuitive tools within the apps to target local and niche audiences without needing a dedicated agency team. Honestly, the adoption rate for the newer, AI-powered tools shows how quickly this segment is moving to automation.

The numbers here reflect a broad base of businesses using the ecosystem for growth:

• Meta Platforms reports having more than 10+ million active advertisers across its platforms.
• Over 4 million of those advertisers are now using Meta's generative AI ad creative tools.

When you look at the efficiency gains, it's clear why SMBs stick around. For instance, AI-driven campaigns require 62% less management time while delivering 28% better performance. That's a tangible ROI for a small operation.

Large Brand Advertisers

These are the global corporations that drive the bulk of the high-volume, high-value ad spend. Their segment is directly reflected in the top-line revenue performance, which saw total revenue hit $51.24 billion in Q3 2025, a 26% year-over-year increase. Advertising was the engine, bringing in $50.1 billion that quarter.

The effectiveness of the ad platform for these large players is measured by engagement and pricing power. Here's the quick math on monetization trends from Q3 2025:

Metric	Q3 2025 Value	Year-over-Year Change
Ad Impressions (Family of Apps)	Increased	14%
Average Price Per Ad	Increased	10%
Reels Annual Run Rate	$50 billion	Major Growth Engine
AI-Driven Ad Tools Annualized Revenue	Surpassed $60 billion	Significant Contributor

The shift toward AI-optimized ad tools is a major factor for this segment, helping them manage massive budgets effectively.

VR/AR Early Adopters

This segment is tied to the Reality Labs division, which is currently characterized by heavy investment and operating losses, but also by emerging hardware success, particularly in the AI-enabled smart glasses space. The traditional VR headset side is seeing some softness, but the new AI wearables are gaining traction fast. If onboarding takes 14+ days, churn risk rises for new hardware, but the early AI glasses launch was defintely a success.

The financial and unit data for this segment tells a story of transition:

• Reality Labs posted an operating loss of approximately $4.4 billion in Q3 2025 alone.
• In Q2 2025, Reality Labs revenue was $370 million, a 5% year-over-year increase, driven by AI glasses sales.
• Global VR headset shipments in Q3 2025 were 930,000 units, a 21% decrease year-over-year.
• The full-year 2025 forecast for VR sales was revised down to 5 million units.
• Global AI smart glasses sales hit 1.65 million units in Q3 2025, a staggering 370% increase year-over-year.
• Ray-Ban Meta smart glasses sold 1.12 million units in Q3 2025.

The focus is clearly shifting from pure VR headsets to the lighter, AI-enabled smart glasses, which saw their full-year forecast raised to 7 million units for 2025.

Finance: draft 13-week cash view by Friday.

Meta Platforms, Inc. (META) - Canvas Business Model: Cost Structure

You're looking at the sheer scale of investment Meta Platforms, Inc. is making to power its AI ambitions, which is the primary driver of its cost structure right now. It's a massive capital outlay, honestly.

Capital Expenditures: Heavy investment in data centers and AI infrastructure is the biggest line item. Management projected capital expenditures for 2025 to be in the range of $70-72 billion. This spend is largely dedicated to building out the necessary compute power for its artificial intelligence efforts, including data centers and infrastructure hardware. For context, full-year 2025 total expenses are projected to be between $116 billion and $118 billion.

Research & Development: The commitment to the metaverse continues to be a significant, though increasingly scrutinized, cost center within Research & Development. The Reality Labs division, which handles virtual and augmented reality projects, is projected to incur a net loss of approximately $18.5 billion for 2025. This follows cumulative losses exceeding $70 billion since 2021 from that division alone. In the third quarter of 2025, Reality Labs recorded an operating loss of about $4.43 billion.

The cost breakdown for these major investments can be seen in the following structure:

Cost Component	2025 Projection/Figure	Context
Capital Expenditures (CAPEX)	$70-72 billion	Primarily for AI data centers and infrastructure
Reality Labs Net Loss (Projected)	$18.5 billion	R&D spending on the metaverse and VR/AR
Total Operating Expenses (Projected Full Year)	$116 to $118 billion	Includes R&D, SG&A, and other operating costs
Q3 2025 Total Expenses	$30.7 billion	Reflecting a 32% year-over-year rise

Employee Compensation: Technical talent, especially in AI engineering and infrastructure development, commands top-tier compensation, making it a major driver of the overall expense growth alongside hardware purchases. While a precise 2025 compensation total isn't publicly itemized against the other categories here, it is a substantial component of the operating expenses that rose 32% in Q3 2025.

Infrastructure and Operations: This category covers the ongoing operational costs to run the massive global network, which is distinct from the upfront CAPEX for building the data centers. These costs include:

• Network bandwidth consumption for serving billions of users.
• Energy costs to power data centers supporting AI training and inference.
• Cloud services and third-party processing fees.

Regulatory and Legal Costs: Global scrutiny translates directly into financial liabilities and defense spending. For instance, Meta Platforms is currently facing potential fines from the European Commission that could reach up to $16.5 billion, representing 10% of global revenues, due to antitrust law violations.

Meta Platforms, Inc. (META) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers behind Meta Platforms, Inc.'s revenue engine as of late 2025. It's a story dominated by digital advertising, but with clear, albeit smaller, bets being placed on the future of computing.

Advertising Revenue: The core business, generating over 98% of total revenue from targeted ads.

The advertising business remains the overwhelming source of cash flow for Meta Platforms, Inc. For the three months ended September 30, 2025, total revenue hit $51.242 billion, a 26% increase year-over-year. The vast majority of this comes from ads served across the Family of Apps.

To give you a sense of scale, the revenue for the Family of Apps (FoA) segment in Q3 2025 was $50.77 billion, which implies advertising accounted for roughly 99.08% of the total revenue for that quarter. This growth is being fueled by both volume and price improvements.

Here's a quick look at the key advertising performance metrics from Q3 2025:

Metric	Value (Q3 2025)	Year-over-Year Change
Total Revenue	$51.242 billion	26% increase
Ad Impressions (FoA)	Increased by 14%	14% increase
Average Price Per Ad	Increased by 10%	10% increase
Reels Annual Run-Rate	>$50 billion	Not specified
End-to-End Automated Ad Tools ARR	Surpassed $60 billion	Not specified

For the twelve months ending September 30, 2025, Meta Platforms, Inc.'s total revenue reached $189.458 billion.

Family of Apps (FoA) Advertising: Revenue from Facebook, Instagram, Messenger, and WhatsApp ads.

The FoA segment is the profit engine, delivering an operating income of $24.97 billion in Q3 2025, up 15% year-over-year. This segment encompasses advertising revenue from Facebook, Instagram, Messenger, and WhatsApp. The growth in ad impressions and price per ad directly translates to the segment's top-line performance.

You should note the user engagement driving this:

• Family daily active people (DAP) averaged 3.54 billion for September 2025, an 8% year-over-year increase.
• Video time on Instagram was up >30% year-over-year in Q3 2025.

Reality Labs Revenue: Sales of consumer hardware (Quest headsets, Ray-Ban Meta glasses) and software.

Reality Labs (RL) remains the investment arm, focused on virtual, augmented, and mixed reality hardware and software. In Q3 2025, RL revenue was $470 million, which represented a 74% year-over-year increase. This growth was attributed to early adoption of new mixed reality technologies and retailers stocking up for the holidays.

However, this segment continues to operate at a significant loss. The operating loss for RL in Q3 2025 was about $4.43 billion. Analysts projected that for the full year 2025, Reality Labs would generate about $2.2 billion in revenue against expenses of roughly $21 billion. The cumulative losses for the division since its launch were reported to be a staggering $73 billion.

Business Messaging Fees: Monetization of business interactions on WhatsApp and Messenger.

While not broken out separately with a specific revenue figure in the primary reports, the early monetization of WhatsApp was cited as a positive factor supporting analyst upgrades. This stream is part of the broader FoA revenue but represents a strategic push to monetize business-to-consumer interactions on platforms like WhatsApp and Messenger, separate from traditional feed advertising.

Other Revenue: Small amounts from developer fees and other non-advertising sources.

The financial reporting does not provide a specific, material dollar amount for 'Other Revenue' outside of the two main segments, FoA and RL. Any revenue from developer fees or other minor sources is embedded within the segment reporting, confirming this category is a small fraction of the total $51.242 billion Q3 2025 revenue.