Zuckerberg is not giving up on Threads, the Meta app launched July 4 to challenge Twitter.
Meta chief Mark Zuckerberg said his new social media platform has lost more than half of its users. At the same time, the Menlo Park-based group’s ceo let employees know that the company is working on new strategies for its Threads app so it can regain users.
Reuters reports this, noting that although the text-based social media service reached 10 million users within seven hours of its debut and then grew to 100 million, more than half are not using the service.
Just two weeks after the explosive debut, the number of active users on Threads has begun to plummet as has the average time spent on the app.
Zuckerberg reportedly told staff that the drop is natural and retention should improve once features such as a desktop version and search capability are added.
Since its debut, Threads has been criticized for the limited functionality it had at its inception, recalls the BBC. Meta has since added new features. Such as separate “following” and “for you” feeds and greater ability to translate posts into different languages.
User splum for Meta Group’s new app
The new social platform launched to challenge Twitter by Meta reached more than 100 million users within five days of its debut in early July.
However, after the initial exploit, Zuckerberg acknowledged that those numbers have now plummeted. “If you have over 100 million people signed up, ideally it would be great if all or even half of them stuck around. We’re not there yet,” the Meta ceo admitted, echoed by Reuters.
At the same time, the ceo described the situation as “normal”. And said he expects retention to improve as new features are added to the app.
Zuckerberg not giving up on Threads
Finally, Zuckerberg also referred to upcoming improvements for Threads during the company’s second quarter results call early last week. Thus claiming that more people than expected are coming back every day and working on Threads’ new features. Thus noting that Meta Platforms’ strategy will be similar to that used for its other social media apps.
Looking at the results for the second quarter of 2023, the group ended the period with revenues of $32 billion. This is up 11 percent from $28.82 billion in the corresponding period of the previous fiscal year.
So the social giant founded by Zuckerberg continues to post good financial results. With a profit of $7.79 billion in the latest quarter.