Meta Platforms (Nasdaq: META), the parent company of Facebook, is set to launch its microblogging service, Threads, in Europe this December, according to the Wall Street Journal. This marks Threads’ most extensive market expansion since its global debut in July.
Initially withheld from the European Union due to its stringent Digital Markets Act (DMA), Meta plans to comply by offering EU users the option to use Threads solely for consumption, removing the need for users to create an account to view posts.
Adam Mosseri, Instagram’s head, announced that Threads users can now delete their accounts independently — something that was not possible since its launch — allowing users to decouple their Threads accounts from associated Instagram accounts.
The expansion to Europe is estimated to bring around 40 million additional monthly users by 2024, bringing it closer to catching up with Elon Musk’s X. Threads is the only direct rival to X, but it still has a long way to go. Data from analytics firm Sensor Tower shows that Threads has around 73 million monthly global users while X has 365 million.
Information for this story was found via the Wall Street Journal, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.