According to Reuters, Mark Zuckerberg warned staff on Thursday that Threads had lost more than half of its users. Since its release, Threads, Meta's alternative to Twitter, has seen a sharp fall in user engagement, with reports claiming that more than half of its users have uninstalled the program. CEO of Meta Mark Zuckerberg stated that the retention of the app "was better than what officials expected, but it wasn't right" in an internal town hall meeting. Over 100 million people signed up for Threads, which was introduced on July 5 as a rival to Twitter, in the first five days after it went live.
In comparison to ChatGPT, Meta's text-based program, which was created to compete with Twitter, attracted 100 million users in just five days. The technical group is having trouble keeping the majority of them, though.
CEO of Meta Mark Zuckerberg stated that the retention rate of the app "was better than what officials expected, but it wasn't right" in an internal town hall meeting.
The number of daily active users on Threads dropped from 49 million on July 7 to 23.6 million on July 14 and is now less than 15 million, according to research by SimilarWeb.
"Obviously, you'd want many people using it if you have more than 100 million people signed up," added Zuckerberg. We have not yet arrived.
The CEO of Meta, however, does not consider the user decline
to be remarkable. He reportedly called the decline in users "normal"
and voiced optimism about raising retention rates as the business keeps
introducing new features to the app.
Chief Product Officer of Meta, Chris Cox, revealed plans to increase retention-driving hooks to entice users back to the platform. According to Chris Cox, the Chief Product Officer, such a strategy includes making sure Instagram users can access crucial threads. "Meta is considering adding more retention-driving hooks to entice users back to the app," Chris Cox reportedly told Reuters, "such as making sure that important threads are visible on the Instagram app."
Despite the difficulties, Meta is still upbeat about the
platform's future and, according to the most recent earnings report, expects
its revenue to double in the third quarter. As seen by the 9% gain in Meta's
shares following the encouraging revenue report and projection, investors appear
to believe in Zuckerberg's vision.
According to Reuters, Zuckerberg stated, "Obviously, you'd want many people utilizing it if you have more than 100 million people signed up. We have not yet arrived. Despite this, Zuckerberg remains upbeat about the future of Threads and believes that the program's user base is declining in a "normal" way. He also expressed confidence that if the firm continues to add new features to the app, retention rates will improve.
Despite the difficulties currently facing Threads, Meta's
CEO is dedicated to making it better.
According to a recent Business Insider report, he said that there is a
lot of "basic work" the team needs to perform, including developing
and testing products that users will appreciate, during the second-quarter
earnings call. He also made mention of potential monetization strategies after
reaching millions of Threads users.
Zuckerberg reportedly told analysts on the second-quarter earnings call that the team still has a lot of "basic work" to do on Threads, including "building and testing features that users will love." This was according to a previous Business Insider article.
The CEO of Meta added that while many individuals might be enthusiastic about an experience, they (the Meta team) must continue to improve the experience to guarantee consumers continue to utilize the platform and feel like Meta is "a good place to be" thread.
He claimed that a lot of groundwork needs to be done, and
Meta wants to improve Threads in order to keep it a place where users can feel
at ease and discover fascinating information.