The head of Instagram, Adam Mosseri, says Meta has no immediate plans to monetize or place ads within Threads, the company’s latest social media platform in direct competition with Twitter.
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In a reply on Threads to a post joking about the monetization opportunity Threads presents, Mosseri said that the company’s focus is to ensure people enjoy and keep coming to the app rather than making money. “Honestly not then priority right now. So humbled by everyone signing up, but we gotta make sure this is an app people want to keep using before we worry about making money,” Mosseri said in the post.
Threads launched on Wednesday night in the United States and other select regions and has acquired over 24 million sign-ups since, according to a report by NBC News. Notably, Threads is unavailable in the EU market due to privacy concerns. Meta CEO Mark Zuckerberg bragged that the app had received over 10 million sign-ups in just 7 hours. Signing up for the app is easy, as all Instagram accounts can automatically be used to sign into Threads. Instagram has over 2 billion monthly active users, according to Statista.
Threads is a direct competitor to Twitter and comes as the bird platform undergoes major and controversial changes under the company’s chief technology officer, Elon Musk. Threads’ emergence in the field comes just days after Twitter announced rate limits for verified accounts, significantly impacting potential user engagement.