Meta’s Changing Fortunes in the App Store
Meta, the parent company of Threads and Instagram, has experienced a significant transformation in its app store rankings. A year ago, Meta did not have any apps in Apple’s top ten downloads. Today, both Instagram and Threads feature among the most downloaded apps globally. Moreover, Instagram and Facebook, Meta’s flagship platforms, are currently outpacing the growth of TikTok.
Promising User Metrics for Threads
The user base for Threads has steadily grown over the last few months, as indicated by Apptopia data. Daily active users have increased by 17%, reaching nearly 35 million people, while monthly active users have risen by 27%, approaching 140 million people. Since its launch, Threads has garnered a total of 445 million downloads, according to Apptopia figures.
In contrast to the success of Threads, X (formerly known as Twitter) has experienced a decline in both daily and monthly active users. Over the past three months, daily active users of X have fallen by approximately 5%, while monthly active users have decreased by 1%. Furthermore, the platform’s downloads are at their lowest level in over a decade since Elon Musk rebranded it as X, alienating major advertisers due to his controversial views.
Advertiser Exodus Threatens X’s Existence
Musk’s behavior and endorsement of racist and antisemitic tweets have resulted in a mass exodus of major advertisers from X. As a consequence, the platform’s viability is now at risk. During the recent New York Times’s DealBook conference, Musk responded to questions about the advertiser exodus with a dismissive and offensive statement, exacerbating the situation further.