Engagement on Meta Platforms Inc. social media app, Threads, has seen a significant drop in daily active users and time spent on the app since the weekend, Business Insider reports.
What Happened:
Despite a strong start, with Mark Zuckerberg‘s Threads hitting 100 million users in just five days, the app’s engagement metrics have started to decline.
Sensor Tower and SimilarWeb data show a decrease in both daily active users and the average time spent on the app. This drop-off suggests that the initial hype around the Twitter-clone may be fading.
“The backing of Meta and the integration with Instagram likely gives Threads a much higher flood than other services, but it will need a more compelling value proposition than simply ‘Twitter, but without Elon Musk,” said Anthony Bartolacci, managing director at Sensor Tower.
Adding onto this, David Carr, senior insights manager at Similarweb said, “While there was intense interest in checking out the app initially, not every user has made a habit of visiting Threads as often as they might other social apps.”
Why It Matters:
The recent drop in Threads’ engagement could be a significant blow to Meta, especially considering the app’s initial success.
Threads had a meteoric rise, amassing a user base of 100 million within the first five days of its launch, a feat unprecedented in the history of consumer applications. This rapid growth was seen as a potential threat to Twitter, which experienced a significant decrease in web traffic following Threads’ launch, according to SimilarWeb data.
Interestingly, even some Twitter employees found Threads to be a better platform, with dozens of them signing up for the app.
An unnamed Threads user was quoted saying, “I’m going to get fired for this, but I work at Twitter right now and have never really used it. Threads is just better,” according to a Daily Beast report.
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Originally Posted July 14, 2023 – Craze For Threads Fading? Zuckerberg’s App Sees Decline In Engagement After Bumper Debut
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just another wall street hype!