BNR – The Meta owner and CEO, Mark Zuckerberg, said the new social media app, Threads, has declined in user logins. The platform has lost over 50 per cent of its user base, according to Zuckerberg.

The Twitter rival rocketed to more than 100 million users within five days of its launch earlier this month.

Threads had a boom in user sign-ups in the first week of its launch early in July. Over 100mln users created accounts on the Twitter competitor platform. Those numbers, however, have now crashed, according to Meta’s CEO.

“Ideally, it would be awesome if all of them or even half of them stuck around,” Zuckerberg said. “We are not there yet.”

Plans to Attract Users with More Features

The Meta owner said that nothing is out of the ordinary regarding the situation. He also projects an increase in people coming back after they add more features and perks to the platform. Users chastised Threads for not having a lot of features and lacking basic functions upon launch, including direct messaging.

Meta’s chief product officer, Chris Cox, said they are now centred around adding more features to attract users.

Furthermore, Zuckerberg briefed staff about the corporation’s upcoming VR environment, the Metaverse. He stated that virtual and augmented realities, which will be the main driver for the Metaverse, are on track.

Meta Reports Strong Financial Performance, Despite Threads

He highlighted the fact that he did not plan on launching the environment until after ten years at least.

Zuckerberg’s remark raised worries among experts that Meta has lost too much effort and funds because of the Metaverse. Reality Labs, a Meta division, has sustained losses of several million dollars.

However, Meta is still performing excellently in terms of financial security. The company announced a few days ago that it has made profits of $7.79bln in the last three months.