Key insights
- Meta's Threads app has surpassed 500 million monthly active users and is introducing new features like 'Your Algo' for feed customization and enhanced community discovery tools. This growth and feature expansion position Threads as a stronger competitor to X, particularly in the digital advertising market. While significant for Meta, the direct impact on broader US equity market movements is currently limited, hence a neutral influence score.
June 16 (Reuters) - Meta Platforms said on Tuesday its Threads app had reached 500 million monthly active users, nearly three years after the social network platform was launched as a competitor to Elon Musk’s X.
The social media company also announced new customization and community features on the platform.
Here are some details:
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Threads is rolling out "Your Algo", a feature that lets users privately control the content they see in their feeds. It is available in the United States, Canada, the UK, Australia and New Zealand.
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Meta is expanding its Communities feature, allowing users to discover and participate in topic-focused groups more easily.
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The company said communities have become a major driver of engagement on Threads. Meta is adding a dedicated Communities hub and new discovery tools designed to help users find conversations centered on specific interests.
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The milestone comes as Meta continues to expand Threads’ advertising business, putting the platform in more direct competition with X for digital advertising dollars.
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Meta launched Threads in July, 2023.
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