Threads may gain 1 billion users, says Mark Zuckerberg
Meta CEO Mark Zuckerberg believes his new Threads app could surge to a billion users. The Verge says this statement came from the company’s second-quarter earnings call with investors. Fewer people have signed up for the app since its launch, but the CEO said “tens of millions” of people were still using it daily.
You should check this issue if you’ve been having second thoughts about registering to Threads. After all, the new Twitter-like platform should be doing something right if its creators believe it could gain a billion users. More importantly, you should adapt to the latest social media app your friends, family, and colleagues may use soon.
This article will discuss why Mark Zuckerberg believes Threads may become Meta’s next big social media platform. Then, I will cover the factors contributing to its growth.
Why would Threads gain a million users?
Currently there are no ads on the Threads app and Meta Platforms CEO Mark Zuckerberg said the company would only think about monetization once there was a clear path to 1 billion users 3/4 pic.twitter.com/RfiEQQOFBx
— Reuters (@Reuters) July 6, 2023
ChatGPT used to hold the record for being the fastest digital product to gain 100 million users. However, Threads beat that record two weeks after its launch, showing its potential to get more members.
Mark Zuckerberg believes the same due to his recent statement in an earnings call. Investors asked him about his expectations for long-term success.
He replied it’s a “weird anomaly in the tech industry that there hasn’t been an app like this for text-based convos that has reached 1 billion people.” Then, he elaborated on his overarching objectives for Threads.
He said his main focus is improving the app’s user retention. In other words, he wants to ensure the platform keeps its new members. Consequently, “I’m highly confident we’re going to be able to pour enough gasoline on this to help it grow. We’ve tried a bunch of standalone experiences over time, and in general, we haven’t had a lot of success with standalone apps.”
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“Part of me wonders if this is just a classic venture capital portfolio question, where you try a bunch of things, and a bunch of them don’t work, and once in a while, one hits… it could be that this is such an idiocratic case because of all the factors happening around Twitter, or X as it’s called now.”
Zuckerberg has also been adding key missing features people miss from Twitter (now X). For example, he recently added a Following feed to the platform.
It lets people view users they’re following conveniently. Moreover, he mentioned, “I think we’re really just focused on taking this opportunity, which is an awesome one that we didn’t expect at this scale.”
Other factors for Threads’ growth
Photo Credit: zdnet.com
Mark Zuckerberg announced 2023 is Meta’s “Year of Efficiency,” significantly changing its products and services like Threads. The company removed numerous workers to streamline its product development.
Meta also made itself “flatter by removing multiple layers of management.” As a result, “information flow between people doing the work and management will be faster.’
Believe it or not, the Threads Following feed shows this efficiency. A Threads user asked Mark Zuckerberg, “Can you please add a following tab?”
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The Meta CEO responded, “Ask, and you shall receive,” he added the feature shortly after. That quick user response greatly improves customer satisfaction and retention. According to marketing consultancy firm Choice Hacking, this platform could dominate social media due to these reasons:
- People prefer their favorite products and services but with slight improvements. For example, Steve Jobs introduced the first iPhone as an iPod merged with an internet browser and mobile phone.
- Meta is a globally-renowned brand that can entice most people to use its products and services.
- Also, the company helps Instagram users join immediately.
- Many people criticized Threads for looking and working similarly to Twitter. However, that also makes it easy to use.
Conclusion
Threads may reach 100 billion users, according to Meta CEO Mark Zuckerberg. As a result, the social media company may create a powerhouse like Facebook soon.
However, we cannot say that Threads could grow such a massive user base. After all, more tech companies are releasing social media platforms.
The existing ones, like Twitter and TikTok, have been improving their services, too. Nevertheless, know about their latest updates at Inquirer Tech.
