On Meta’s Q2 earnings call, CEO Mark Zuckerberg reported that the company’s X rival, Threads, has reached almost 200 million active users on the platform.
The head of Instagram, Adam Mosseri, later confirmed this information in a post on the platform, stating, “I’m excited to share that we crossed the 200M milestone on @threads.”
Mosseri explained, “My hope is that Threads can inspire ideas that bring people together, and this amazing community continues to grow.”
Threads has only been active for thirteen months and is already one of the largest text-focused social media platforms.
Threads has grown by 50 million users since April
Despite the platform still being in its infancy, it has grown at a record pace. It launched in July 2023, and in April 2024, Threads had reported crossing the 150 million active users mark.
This growth spurt in Q2 for Threads means the social media platform grew by 50 million users in three months. But how does this growth fare in comparison to its main rival, Elon Musk’s X?
Musk previously reported that X had more than 600 million active users in May. This is a clear improvement in the platform’s performance. It was estimated that prior to Musk’s taking over, the platform had an estimated 238 million users.
Mark Zuckerberg says Threads can become a billion-user platform
The fierce competition between the two billionaire CEOs and their text-based platforms has heated up since Thread’s launch in July 2023.
Last year, Zuckerberg claimed Threads has a “good chance” of becoming a platform with more than a billion active users “in a few years.”
To accomplish this ambitious growth goal, Threads has promoted its posts on both Instagram and Facebook. Meta is also reportedly working on further integration between its apps by allowing Threads posts to be directly shared on Instagram stories.
Meta’s Q2 performance
Unlike other tech companies, Meta reported a strong Q2 financial performance. The company reported a total revenue of $39.07 billion, which marks a 22 percent increase in comparison to last year’s Q2 performance.
Meta’s performance, however, was significantly better in its Daily Active People indicator across its family of apps.
It marked a 7 percent increase from last year, reaching a total of 3.27 billion users. Threads has been particularly important for this growth, given that it has shown an increase in key metrics such as ad impressions.
Many industry analysts expect Meta to carry on this momentum into Q3 2024. The company expects revenue to be somewhere around $38.5 to $41 billion.
However, it expects operating losses in its Reality Labs divisions due to issues in product development and scaling.
