<div id="readability-page-1"><div><div>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 &#34;Loma,&#34; 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.Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.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.Benzinga’s Edge Stock Rankings underscore Meta’s solid price momentum over short, medium and long-term periods. Additional performance metrics can be found here.Check out more of Benzinga’s Consumer Tech coverage by following this link.Photo Courtesy: Skorzewiak on Shutterstock.com<ul> <li>Cathie Wood Dumps Palantir As Stock Touches Peak Prices, Bails On Soaring Flying-Taxi Maker Archer Aviation</li> </ul></div></div></div>

META

Meta Platforms, Inc. is negotiating with major entertainment companies, including Disney and A24, to secure exclusive content for its upcoming virtual reality headset, internally known as "Loma." The device aims to compete with Apple's Vision Pro, priced under $1,000. Meta's strategy contrasts with Apple's, which did not pay for content. Despite a $17.7 billion loss last year in its Reality Labs division, Meta's shares have risen 14.80% this year, reflecting positive market momentum.

- Meta Platforms, Inc. is negotiating with major entertainment companies to secure exclusive content for its upcoming virtual reality headset, internally known as "Loma," set to launch next year.  
- The headset aims to compete with Apple's Vision Pro by offering immersive experiences and is expected to be priced under $1,000, contrasting with Apple's $3,500 device.  
- Despite past losses in its Reality Labs division, Meta's investments in VR and its successful Ray-Ban smart glasses indicate a strong commitment to the market.  

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