Meta CEO Mark Zuckerberg claims that the company’s latest social media site, Threads, has lost more than half of its subscribers.
Within five days of its inception earlier this month, the Twitter competitor had more than 100 million members.
However, Mr. Zuckerberg has admitted that those figures have now fallen.
“If more than 100 million people sign up, it would be ideal if all of them, or even half of them, stayed.” “We’re not quite there yet,” he admitted.
Mr Zuckerberg, who made the remarks in a call to staff recorded by Reuters, described the situation as “normal” and predicted that retention would increase as new features were added to the app.
Threads was chastised for its restricted capabilities when it first introduced.
Meta has recently introduced more features, such as distinct “following” and “for you” feeds, as well as expanded the ability to translate postings into many languages.
Chris Cox, the business’s chief product officer, informed employees that the company was now focusing on providing more “retention-driving hooks” to entice consumers to return to the platform.
He provided the example of “ensuring that people using the Instagram app can see important Threads.” The two networks are inextricably linked; users must have an Instagram account to join up for Threads.
Mr. Zuckerberg also informed employees on the company’s massive wager on the Metaverse, a yet-to-be-created virtual reality realm.
He claimed work on the augmented reality (AR) and virtual reality (VR) technology that would power it was “not massively ahead of schedule, but on track,” but he didn’t expect it to be widely available until the next decade.
That projection may exacerbate fears that Meta has devoted too much time and money to the Metaverse – its Reality Labs segment, which manufactures VR headsets and other goods, has incurred multibillion-dollar losses.
The corporation as a whole, on the other hand, continues to perform well financially, reporting a $7.79 billion profit in the most recent quarter.
Mr. Zuckerberg also addressed another hot topic: his proposed cage fight with fellow tech giant Elon Musk.
In June, the two men suggested from the safety of their keyboards that they were both interested in a fight, even offering a site in Las Vegas.
However, when asked about it during the call, Mr. Zuckerberg stated that he was “not sure if it’s going to happen.”
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