Meta CEO Mark Zuckerberg has acknowledged that the number of users on his new social media platform, Threads, has plummeted since its launch earlier this month.
In a call to employees, Zuckerberg said that Threads had lost more than half of its users in just a few weeks. The app, which was designed to be a more intimate and personal way to connect with friends, had rocketed to more than 100 million users within five days of its launch.
Zuckerberg described the situation as "normal" and said he anticipated retention to improve as new features were added to the app. He also said that Threads was still in its early stages and that he was "excited" about its potential.
However, the decline in Threads' user base is a worrying sign for Meta, which is facing increasing competition from other social media platforms, such as TikTok and Snapchat. The company has been investing heavily in new products and features in an effort to stay ahead of the curve, but Threads' early struggles suggest that it may be facing an uphill battle.
It remains to be seen whether Meta will be able to turn things around for Threads. However, the company's recent struggles suggest that it may be facing a growing challenge in maintaining its dominance in the social media space.
Nevertheless, analysts have been mixed in their assessment of Threads' future. Some believe that the app has the potential to succeed, while others believe that it is unlikely to gain traction.
"I think Threads has the potential to be a successful product," said Matt Navarra, a social media analyst. "It's a well-designed app that offers a unique way to connect with friends. However, it will need to add more features and improve its discoverability if it wants to attract a larger user base."
"I'm not convinced that Threads will be a success," said eMarketer analyst Andrew Lipsman. "The market for social media apps is crowded, and there are already a number of popular options available. I think it will be difficult for Threads to break through."
Only time will tell whether Threads will be able to overcome its early challenges and become a successful product. However, the company's recent struggles suggest that it may be facing an uphill battle.