SAN FRANCISCO: Instagram's Twitter competitor Threads is reportedly fast losing steam, a massive 70 per cent decline from its highest in early July.

Despite Meta Founder and CEO Mark Zuckerberg claiming that "10s of millions of people come back daily" on Threads, the number of daily active users on Threads dropped for the second week down to 13 million, "a 70 per cent decline from a July 7 high point," reports The Wall Street Journal.

By comparison, Twitter's daily active users are around 200 million.

"User engagement on Threads has continued to fall after an initial surge in sign-ups, putting pressure on parent Meta Platforms," the report noted, citing Sensor Tower data.

Data show user engagement has fallen 70 per cent as "executives focus on options such as a chronological feed," it added.

Meta executives, however, have said they don't see the falloff as worrisome and have said they are working on additional features.

Threads is still new and needs several Twitter-like features to make it more competitive in the social media space.

Earlier reports mentioned that the so-called Twitter killer's daily use has gone down miserably, with time spent by users now down by 50 per cent from 20 minutes to just 10 minutes.

Last week, Threads crossed 150 million user sign-ups despite a usage drop.

Meta launched Threads on July 5 for iOS and Android users in 100 countries, and it is among the top free apps on the App Store.

According to Data.ai, the app has surpassed more than 150 million downloads worldwide, within seven days after its launch.

Recent information revealed that Threads has gained the largest user presence in specific markets, with India leading the way, accounting for approximately 32 per cent of its downloads.

Following India is Brazil, contributing to approximately 22 per cent of Threads' installations, and the US, representing nearly 16 per cent of the total.