Meta is planning to introduce further “retention-driving hooks” to Threads after the app lost over half its users in the weeks following its launch.
Threads, rival platform to Elon Musk’s X (formally known as Twitter), experienced initial record-breaking success as the the fastest-growing app ever, receiving 100 million user account openings in under a week.
However, CEO Mark Zuckerberg told employees on Thursday, 27 July that user numbers had dropped by more than 50%.
Chris Cox, Meta’s chief product officer, said the company will be adding “hooks” to encourage retention of engagement levels – including the promotion of important Threads content on linked-application Instagram.
The move comes a day after Meta announced higher-than-expected second quarterly financial results, which included an overall revenue growth of 11%.
The company reported its family of apps and advertising revenue saw increased profits of 8% throughout the last six months.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Speaking about Threads during an earnings call on Wednesday, Zuckerberg said he was “quite optimistic” about its trajectory.
“We saw unprecedented growth out of the gate and more importantly we’re seeing more people coming back daily than I’d expected,” Meta’s CEO said.
“Now, we’re focused on retention and improving the basics,” Zuckerberg told employees and investors, “and then after that, we’ll focus on growing the community to the scale we think is possible. Only after that will we work on monetization.”
Its yet to be seen how Threads will work in the EU, where Meta risks large fines if it fails to uphold certain data-sharing laws as part of the EU Digital Markets Act.