Threads Has Nearly 100 Million Monthly Users, Click-To-Message Ads Doubled YoY In India: Mark Zuckerberg

Zuckerberg also expressed his belief that business messaging will become a major pillar of Meta's operations.

Meta, the parent company of Facebook, reported significant progress in its social media endeavours. CEO Mark Zuckerberg revealed during the quarterly earnings call on Wednesday that Meta's latest social media platform, Threads, has achieved an impressive milestone. Launched in early July, Threads, positioned as a direct competitor to Elon Musk's X (formerly Twitter), has garnered just under 100 million monthly users in a span of three months.

Mark Zuckerberg expressed his satisfaction with the platform's growth trajectory, echoing the positive sentiments he previously shared in an interview with The Verge. He emphasised the company's intention to further expand the Threads community, highlighting the positive reception it has received so far.

Zuckerberg, known for his long-term vision, sees Threads as a formidable contender in the social media landscape, especially with the transformation of Musk's platform into the X super app. He envisions Threads as a billion-person public conversations app with a more positive tone and believes that, with continued dedication, the company can bring this vision to fruition in the coming years.

Additionally, Meta's CEO discussed the growth of Click-to-Message ads in India. He revealed that the revenue generated from these ads has doubled year-over-year, underscoring the potential of business messaging for Meta. Zuckerberg mentioned that more than 60 per cent of WhatsApp users in India engage with business app accounts on a weekly basis. Although specific revenue figures and user statistics were not disclosed, India, with over 500 million WhatsApp users, remains a critical market for the company.

Zuckerberg also expressed his belief that business messaging will become a major pillar of Meta's operations, with over 600 million daily conversations occurring between individuals and businesses on their platforms. This highlights the growing importance of business communication within Meta's strategy.

Meta's Chief Financial Officer, Susan Li, echoed this optimism, emphasising that Threads presents a compelling long-term opportunity, with plans to build on its product momentum in the upcoming year.

Launched in July, Threads started as a relatively basic platform but has rapidly evolved, incorporating new features like a web app, post-search capability, and a free edit feature. However, it's worth noting that Threads remains unavailable in Europe due to regulatory uncertainties.

In a Threads post, Adam Mosseri, the head of Instagram, expressed hopes for future developments, including European support, progress in the Fediverse, enhanced Instagram integration, and the emergence of new trends in the coming months.

As part of its third-quarter earnings report, Meta disclosed its impressive $34 billion in revenue, marking a 23 per cent increase from the same quarter in the previous year. Despite this strong financial performance, the company still faces significant operating losses within its Reality Labs division, with expectations of further increases year-over-year.