Zuckerberg addresses Threads’ losing 25.4m daily active users within a week
Meta’s Chief Executive Officer, Mark Zuckerberg, has expressed optimism in Threads’ performance after reports emerged that the latest app from his tech company lost 25.4 million daily active users within a week.
SimilarWeb, a data tracking site reported that, from its research based on android users, the numbers of daily active users on Threads dropped from 49 million to 23.6 million in a week. This means that people who signed up to the app are no longer returning the Threads daily.
However, Zuckerberg said it will take time for the app to stabilize and they were focusing on how to grow and retain the Threads’ community.
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“Early growth was off the charts, but more importantly 10s of millions of people now come back daily. That’s way ahead of what we expected. The focus for the rest of the year is improving the basics and retention,” Zuckerberg said.
“It’ll take time to stabilize, but once we nail that, then we’ll focus on growing the community. We’ve run this playbook many times (Facebook, Instagram, Stories, Reels) and I’m confident Threads is on a good path too,” he explained further.
Threads was launched in early July 2023 and millions of people across the world rushed to sign up to the latest Meta product. Within its first four hours, five million people had already signed up and created accounts. Despite being a standalone app, Threads leverages the popularity of Instagram by requiring users to log in using their Instagram accounts.
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Launched as a rival to the embattled Twitter, Threads aimed to capture the attention of dissatisfied Twitter users who had issues with how its new owner, billionaire Elon Musk, was running the show on and offline.
A notable distinction is Threads’ expanded character limit, allowing users to post up to 500 characters, providing a more extensive canvas for expressing thoughts and ideas. It also allows users to post photos and videos of up to five minutes in length.
Currently, Twitter is in court suing Meta over claims that it hired its former employees to create Threads and that they used Twitter’s trade secrets and other highly confidential information. However, Meta denied any claims that they employed any former Twitter employees to work on their rival app.