(CTN News) – In a recent call with employees, Meta’s CEO, Mark Zuckerberg, revealed that the company’s new social media platform, Threads, has experienced a significant decline in its user base.
Within five days of its launch, Threads had attracted more than 100 million users, but Zuckerberg acknowledged that retention had been an issue.
While admitting the setback, Zuckerberg assured that it was a normal occurrence for new platforms and expressed optimism for improvement as they introduced additional features to Threads.
The app’s limited functionality at launch had received criticism, but Meta has since responded by adding separate “following” and “for you” feed and increasing translation capabilities to cater to diverse users.
Meta’s Chief Product Officer, Chris Cox, shared that they focused on incorporating more “retention-driving hooks” to re-engage users. One example is integrating Threads with the popular Instagram app, as users must have an Instagram account to access Threads.
On a separate note, Zuckerberg also provided an update on Meta’s ambitious venture into the virtual reality world, known as the Metaverse.
While progress is reportedly on track, Zuckerberg estimated that widespread adoption of augmented reality (AR) and virtual reality (VR) technologies needed for the Metaverse might not happen until the next decade.
This development may raise concerns, as Meta’s Reality Labs division, responsible for VR headsets and related products, has recorded substantial financial losses.
Despite this, Meta thrives financially, announcing a staggering $7.79 billion profit in the last quarter. However, the company’s dedication to the Metaverse may face scrutiny as some question allocating time and resources.
Addressing another headline-making issue, Zuckerberg’s proposed cage fight with fellow tech titan Elon Musk appears uncertain. Though both expressed interest in the bout earlier, Zuckerberg stated uncertainty about whether it would materialize.
In conclusion, Meta faces the challenge of retaining users on Threads while continuing its ambitious pursuit of the Metaverse.
As new features and improvements are rolled out, the tech world awaits to see if Threads can reclaim its initial user base while Meta strives to establish itself as a leader in the AR and VR realm.