“Specifically, as it pertains to monetization, we don't expect Threads to be a meaningful driver of 2025 revenue at this time.”

In context

“re. We are continuing to launch more features and make improvements to our ranking stack. We feel very good about the continued user growth on Threads. We're bringing on an increasing number of users each quarter and depth of engagement also continues to grow and in Q3, we saw especially strong user growth in key markets like the US, Taiwan, and Japan and we've added a number of new features over the course of Q3 including, account insights for businesses and creators to see how their posts perform, the ability to save multiple drafts, continuing to deliver on our commitment to integrate Threads with the Fediverse and basically we're very focused on continuing to build out the sort of functionality of Threads over time and being responsive to what users tell us that they're interested in. Specifically, as it pertains to monetization, we don't expect Threads to be a meaningful driver of 2025 revenue at this time. We've been just pleased with the growth trajectory and, again, are really focused on introducing features that the community finds valuable in working to deepen growth and engagement. Your second question was about the increase in average price per ad, so that grew 11% year-over-year driven by strong advertiser demand and part of that is because of better ad performance over time also and we saw that CPM growth accelerate slightly from 10% in Q2 in part because we experienced lower impression growth in Q3, but more broadly as we think about price and growth and this metric, the year-over-year growth in reported price per ad, there's a lot that goes into that including the auction dynamics resulting from fluctuations and impression growth. And one of the things that we feel like we're very”