Meta's Threads Surges to 275 Million Monthly Users, Emerging as a Major Contender to X
7.2%
Amazon's Q3 report showed strong growth driven by Prime Day and boosted by AI advancements and robotics. Online sales rose 7.2% to $61.4 billion, and AWS powered a 55% net income increase. Third-party services, advertising, and Prime memberships grew, while enhanced robotics and fulfillment efficiency supported operating margins.
275M
Meta's Threads has reached 275 million monthly active users, rapidly positioning itself as a significant social media rival to X. Growing at an unprecedented pace, Threads added 100 million users in the last three months, partly due to discontent with X's recent changes under Elon Musk. Additionally, Threads is expanding functionality with interoperability in the Fediverse, while competitors like Bluesky are also gaining momentum as alternatives for disillusioned X users.
2.3%
Wayfair's Q3 revenue dropped 2% to $2.9 billion, while it cut losses by over 50% to $74 million, despite challenges in the home goods market. Active customers decreased, but the average order value rose to $310. Wayfair aims to boost loyalty with its new paid program, Wayfair Rewards, offering perks like free shipping and sale access.
27%
A recent survey shows that 60% of in-store shoppers frequently encounter locked merchandise, with 27% opting to shop elsewhere when faced with locked items. Lock-ups, especially common in drug stores and mass retailers, are often a response to rising retail theft, which has led to out-of-stock items, increased costs, and even inflation.
81%
As per IZEA report, 81% of U.S. users aged 18-44 rely on social media for news, highlighting the stakes. The 2024 election cycle faces rising foreign interference from Russia, Iran, and China, alongside the threat of AI-generated deepfakes aimed at influencing undecided voters. Major platforms like Meta, TikTok, Snap, and X are intensifying efforts to combat election misinformation, as their ability to uphold content integrity could have lasting impacts.
$3.43 T
Nvidia reclaimed the title of the world’s most valuable public company, surpassing Apple with a market cap of $3.43 trillion. Nvidia’s continued growth as the dominant supplier of GPUs, driven by demand for its AI-focused GPUs, has surged nearly 200% this year. Apple remains a leader in "edge AI" with new iPhone features but now trails Nvidia, whose revenue growth continues to impress. Nvidia also joins the Dow Jones Industrial Average, replacing rival Intel and joining Apple on the index.
7.8%
US and UK advertisers are set to spend a record £10.5bn this holiday season, up 7.8% from last year. Online media is expected to lead the increase, with notable boosts in social media and video on demand, while out-of-home advertising in towns and high streets is projected to rise by 8.1%. Consumer excitement for festive ads is also at a high, with 59% expressing love for Christmas TV ads, up from 51% last year.