If Meta’s business was a TV show, it would probably be called Mark Zuckerberg’s Series of Unfortunate Events.
According to The Wall Street Journal—who got a look into the company’s internal documents—the Metaverse project is failing to meet performance expectations.
No Sun at the horizon: The major Metaverse project Horizon Worlds expected to attract half a million users by the end of the year, but the current figure stands at less than 200,000.
The retention also looks rough, showing most users didn’t return to Horizon after the first month and the number of users “steadily declined” since Spring. A big ouch!
Going the Yahoo route? Early days, but according to experts, Zuckerberg might be falling into the “Yahoo” trap.
Or — making an ambitious bet that may fail and undervalue the entire business.
No more instant news: Additionally, Axios reports that Meta will be ending support for Instant Articles, which allows mobile users to quickly load news articles on the app.
This is a signal that Facebook is cutting investments in text content and trying to “reinvent” themselves, leaning into short-form video format style.
Why we care: It’s definitely a rollercoaster at Meta’s headquarters.
As a marketer, you should closely follow the platforms’ transformation as it will look increasingly different than it was when you first started…
Alex Lim
Alex Lim is a certified book reviewer and editor with over 10 years of experience in the publishing industry. He has reviewed hundreds of books for reputable magazines and websites, such as The New York Times, The Guardian, and Goodreads. Alex has a master’s degree in comparative literature from Harvard University and a PhD in literary criticism from Oxford University. He is also the author of several acclaimed books on literary theory and analysis, such as The Art of Reading and How to Write a Book Review. Alex lives in London, England with his wife and two children. You can contact him at [email protected] or follow him on Website | Twitter | Facebook
