Meta's Twitter Competitor App 'Threads' Faces Declining Engagement and User Exodus: Report
Portfolio Pulse from Anusuya Lahiri
Meta Platforms Inc's Instagram-linked app Threads is facing a user exodus, with daily active users dropping to 23.6 million from a peak of 49 million in July. The company is focusing on improving performance and introducing new features rather than increasing user engagement. Threads' relationship with Instagram initially boosted its popularity, but users were disappointed by the required Instagram account deletion to ditch Threads. Meta's shares are trading higher by 0.19% at $303.10 premarket on the last check Friday.
July 21, 2023 | 11:58 am
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Meta's Threads app is facing a decline in user engagement, which could potentially impact the company's revenue. However, the company's shares are currently trading higher.
The decline in user engagement for Meta's Threads app could potentially impact the company's revenue if it continues. However, the company is focusing on improving the app's performance and introducing new features, which could potentially attract more users in the future. Despite the user exodus, Meta's shares are currently trading higher, indicating that investors may not be overly concerned about this issue at the moment.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100