Meta Platforms, the parent company of popular social media platforms like Facebook and Instagram, is facing a significant challenge with its new text-based app, Threads. According to CEO Mark Zuckerberg, more than half of the users who initially signed up for the app have left in the weeks following its highly publicized launch.
During an internal company town hall meeting, Zuckerberg acknowledged that while the retention of users on Threads was better than expected, it still fell short of the company’s goals. With over 100 million sign-ups, it aims to improve user retention and encourage more people to stick around. Zuckerberg sees the drop-off in user numbers as a normal occurrence for a new app and remains optimistic that retention will increase as they add more features to Threads. Some of these planned features include a desktop version of the app and improved search functionality.
It’s Chief Product Officer, Chris Cox, revealed that the company is actively exploring ways to implement “retention-driving hooks” to entice users to return to Threads. One such strategy involves ensuring that people using the Instagram app can easily access important Threads content, thus fostering cross-platform engagement.
Despite the challenges with Threads, Meta’s overall outlook appears positive. The company recently impressed investors with a positive revenue growth forecast, signaling a comeback following doubts about its investments in the metaverse concept. The metaverse is a virtual shared space that integrates augmented reality (AR) and virtual reality (VR) technologies.
Zuckerberg emphasized the importance of the company’s work on AR and VR technologies, which will underpin the future metaverse experience. While not claiming to be significantly ahead of schedule, Zuckerberg stated that they are on track and need to continue investing in these technologies to stay competitive against other tech giants like Apple, Google, and Microsoft, who have substantial experience in building operating systems for existing products.
Looking ahead, Zuckerberg predicts that mass adoption of metaverse technologies will likely take place in the 2030s. This suggests that Meta is preparing for the long term and aims to have all the necessary tools and infrastructure ready when the metaverse becomes mainstream.
Additionally, the company recently released an artificial intelligence model called Llama 2, which they made freely available for commercial use to developers with a smaller user base. The release has been met with significant interest, with over 150,000 download requests within a week.
Read more: Meta Unveils Llama 2, a New AI Competitor to ChatGPT and Bard
Lastly, addressing rumors about a potential “cage match” against tech entrepreneur Elon Musk, Zuckerberg expressed uncertainty about such an event, leaving the matter open-ended.
Meta Platforms is focused on addressing the user retention challenges faced by its new app, Threads, and is actively exploring ways to improve the user experience. The company remains optimistic about its future, with promising developments in the metaverse, AI technology, and positive revenue growth. However, the road to success in the competitive tech landscape may require Meta to stay agile and committed to innovation.
