This week’s top story concerns Meta’s latest app, Threads, which has lost nearly 80% of daily users in a month. On July 7th, the app had 49.3 million daily active users, but fast forward to August, and numbers have dropped to 10.3 million – and are still falling.

Users are also spending less time on the app – from an average of 14 minutes per session a month ago to just three minutes now. Despite these trends, Meta CEO Mark Zuckerberg remains optimistic and focused on maintaining a positive outlook for investors.

News:

Netflix expands its gaming test: Netflix will begin testing its games across more devices, including computers and TVs. During this limited beta, Netflix aims to test its game-streaming tech, a controller and improve user experience.

McDonald’s x Disney+: McDonald’s has collaborated with Disney+ to promote the second season of ‘Loki.’ Customers who scan Sweet ‘N Sour sauce packets can access exclusive Marvel content on Snapchat.

Instagram adds new features: Instagram has added a new music feature allowing users to add songs to carousel posts. The app also expands its collaborative posting feature, enabling users to post with up to three people.

TikTok’s #BookTok challenge: TikTok has launched a ‘Global #BookTok Challenge’ inviting users to share book recommendations for a chance to win a reward. It also promotes the #BookTok community and literary engagement.