Meta's Threads Faces Uphill Battle In Rivalry With Elon Musk's X, Remains Ahead Of Only Tumblr
Portfolio Pulse from Benzinga Neuro
Meta's real-time messaging app Threads is experiencing slower growth due to competition with Elon Musk's X. The app debuted strongly in July but has since slid down the ranks of popular social media platforms. It is expected to have 23.7 million U.S. users in 2023, far behind Meta's other platforms, Facebook and Instagram, and ByteDance's TikTok, and Musk's X. Meta CEO Mark Zuckerberg has stated that the company has no immediate plans to monetize Threads until it is more established.
September 27, 2023 | 9:08 am
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Meta's Threads app is facing slower growth due to competition, which could impact Meta's overall performance.
The slower growth of Threads, one of Meta's products, could potentially impact the company's overall performance and stock price. The competition from other social media platforms, including Elon Musk's X, is a significant factor in this slower growth.
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