Meta Platforms Inc recently announced it will roll out its v67 software update, updating its spatial computing platform with a new series of features like Horizon Feed creator content, experimental support for two-dimensional apps in virtual spaces, and a new Theatre View.

For instance, v67 will allow users to reorder their 2D panels in their home environment and provide greater control over the number present in their virtual spaces, compared to the normal 3-panel display.

Theatre View will also expand the size of panels and bring them into focus for the user, creating a cinematic experience for any digital content, including movies, work, and internet browsing.

Finally, creator content will populate the Horizon Feed so that users can choose from an entire community of influencers, filmmakers, commentators, and many more, building a living, working social network.

Building on v66 Updates

The news comes after the Menlo Park-based firm released its v66 update in early June, greatly improving issues with visual distortion and colour adjustments on Passthrough.

Audio will also continue to play after minimising 2D apps, and the headset will improve hand tracking and menu access with a new virtual wrist menu gesture. This will also provide access to in-game, system, and experience menus for optimised control functionality.

Finally, in efforts to improve on online child safety, from 27 June, Meta began enhancing its Parental Supervision toolkit for children aged from 10 to 12. With the new options, supervised young people can see one another in the Family Center, connecting them across the platform.

Meta’s Strengthening Financials

Meta has remained centric to the development of accessible and affordable mixed reality (MR) headsets, and the latest series of updates aim to cement its hold on the XR consumer and business market.

Year-on-year stock trading prices for the spatial computing tech giant have skyrocketed 50.67 percent and 81.16 percent in total gains, according to figures from Trading View.

Despite taking on record losses from research and development (R&D) expenses in recent years, it has seen massive leaps in revenues in the first quarter (Q1) and year-to-date at 36.46bn and 134.90bn, respectively.

In its Q1 earnings report, a Meta spokesperson explained the rise in expenses,

“[We] expect capital expenditures will continue to increase next year as we invest aggressively to support our ambitious AI research and product development efforts.”

Additional challenges such as “increasing legal and regulatory headwinds in the EU and [US]” were expected to “significantly impact our business anf financial results,” the company added.

However, Meta noted that “Q1 was a good start ot the year” and that its Family of Apps — Facebook, Instagram, Meta, and WhatsApp — had seen “strong momentum.” The firm’s Reality Labs and AI campaigns also showed promising potential “to transform the way people interact with our services” in the future, it noted.

After reaching a market capitalisation of $1.32tn, Meta continues to climb in its earnings for 2024 amid plans to release its Q2 results on 31 July.

This comes months after the XR giant faced huge setbacks, including increasing scrutiny and fines from EU regulators, over 21,000 layoffs across multiple departments, and increasing pressure from shareholders.

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