Meta, the parent company of popular social media platform Facebook, is facing challenges with its Twitter-like app called Threads. Despite attracting over 100 million sign-ups, more than half of its users have not remained active on the platform. Mark Zuckerberg, the CEO of Meta, considers this drop-off to be normal and believes that many users will return as Threads introduces new features like search functionality and a desktop version.
During an internal town hall meeting, Zuckerberg and Chief Product Officer Chris Cox discussed their plans to implement “retention-driving hooks” to entice users back to the platform and keep them engaged. One such hook involves integrating Threads with the Instagram app, allowing Instagram users to access important Threads content.
Zuckerberg also shared his vision for the metaverse, a virtual shared space where users can interact, work, and socialize. He expects mass adoption of the metaverse to take place in the 2030s. However, the development of Meta’s Reality Labs, responsible for the virtual reality and metaverse projects, has faced financial challenges, with losses amounting to $21 billion over the past 18 months and $34 billion in total.
Sensor Tower data revealed a significant decline in Threads’ daily active users, with a 70% decrease from its peak on July 7. Currently, only 13 million users actively engage with the platform. The average time spent on Threads has also decreased drastically, with users spending only four minutes on iOS and five minutes on Android devices. As Threads is currently focused on mobile users and lacks a desktop client, it may be limiting its reach to a broader audience.
Despite these setbacks, Zuckerberg remains optimistic about Threads’ future and its potential for growth. He compared the app’s early performance to that of other successful features introduced by Facebook and Instagram in the past, expressing confidence that Threads will find its path to success after stabilizing its user base and enhancing retention.
As Meta continues to invest in innovation and new features, its efforts to revitalize Threads and cater to the changing preferences of users in the dynamic social media landscape will be closely watched.