Meta focuses on users’ retention for Threads after initial drop

London: Meta platforms executives started focusing their efforts on improving user retention for their new Twitter rival, Threads, after the app experienced a significant drop in users following its highly anticipated launch.

CEO Mark Zuckerberg addressed the issue during an internal company town hall, stating that while user retention on the text-based app was better than expected, it was not yet at the desired level.

Zuckerberg acknowledged that it is normal for some drop-off to occur after a big launch and expressed confidence that retention would improve as they introduce more features to the app. Among the upcoming features are a desktop version and search functionality, which are expected to enhance the user experience.

Meta is actively exploring additional ways to entice users to return to the app by incorporating "retention-driving hooks," such as ensuring that Instagram users can easily access important Threads content, according to Chief Product Officer Chris Cox.

Regarding Meta's financial performance, the company recently impressed investors with a positive revenue growth forecast, indicating a potential comeback after facing skepticism due to its substantial spending on the metaverse concept. The positive disclosure resulted in an 8% surge in Meta's shares.

During the town hall, Zuckerberg also emphasized the importance of the company's work on augmented and virtual reality technology, which will power the metaverse. He stated that they need to invest in this area ahead of competitors like Apple, Google, and Microsoft, who have extensive experience in building operating systems for existing products. Zuckerberg predicted that mass adoption of metaverse technologies would occur in the 2030s.

Additionally, Zuckerberg and Cox highlighted the release of Meta's artificial intelligence model, Llama 2, which was made available for commercial use to developers with fewer than 700 million users. The model has already received over 150,000 download requests since its recent release.

In response to a question about a proposed "cage match" against Elon Musk, Zuckerberg expressed uncertainty about its realization, leaving the matter unresolved.

Courtesy: Reuters