Is Meta’s Next Big Thing Already Here?
Meta Platforms (META) stock returned 10.4% over the past month, outperforming the 1.8% return for the S&P 500. Investors have been optimistic about the company following the release of a new app on September 8, 2026. Nearly all of Meta’s revenue still comes from ads, but this recent launch may signal the start of a broader business model. So what did Meta launch, and how far has it gotten?
Meta Launched Muse, A Personal AI Agent
Muse is an application designed to handle delegated tasks, such as booking travel and managing emails. It can also scan retail sites, locate specific products, and prepare a purchase for the user to approve. Meta has announced shopping partnerships with Walmart, Gap, Sephora and others.
Early adoption has already outpaced ChatGPT’s initial rollout. Following its release, Muse topped OpenAI’s ChatGPT in Apple iOS downloads. The app-analytics firm Apptopia estimated that Muse had 642,000 daily active users in the U.S. during its first twelve days. By comparison, Apptopia put ChatGPT at 231,000 daily active users at the same stage of its own mobile launch.
Executives signaled this strategic direction well before the release. During the company’s second-quarter 2026 call in July, management stated that personal agents would serve as the foundation for its next wave of products and revenue lines. Meta offers a basic tier of Muse for free alongside paid subscription plans ($20 and $100 per month), while testing additional commercial monetization avenues such as transaction fees.
How Much Of Meta’s Revenue Comes From Ads?
Ads brought in about 98% of Meta’s revenue in the second quarter of 2026. That segment generated $59.4 billion out of a total $60.8 billion, meaning any new business would start small alongside the core advertising operations.
Yet there are signs of diversification. Within Meta’s apps, revenue other than ads grew 73% from a year earlier, outpacing the 28% growth for the company as a whole. Management noted that this growth came mainly from WhatsApp paid messaging and subscriptions. Meta has therefore shown it can grow sales outside ads, even if its apps are building from a base of $1 billion in the quarter.
Muse could become the next source of non-ad revenue. According to an October 8, 2026 report by Proactive Investors, Meta hopes to monetize the app by collecting a percentage of each purchase that an agent makes for a consumer.
Even after the past month’s gain, Meta stock remains 7.3% below its 52-week high. The shares have returned 1.4% over the past twelve months, trailing the 17.0% return for the S&P 500. Based on these figures, the current market price does not appear to factor in a large new business just yet.
Muse Still Has To Become A Daily Habit
While Muse has secured strong initial downloads and early users, twelve days of activity does not yet show a lasting habit. As CNBC reported on October 7, 2026, it is not yet clear whether consumers will integrate digital assistants into their daily lives.
The app also needs external websites to grant it access. The investment bank Jefferies found that about one-third of the websites it tested blocked Muse, which could delay Meta’s revenue from agent shopping. Furthermore, Amazon blocked the Muse app from shopping on its own site in September 2026.
During its July call, held before Muse launched, management did not say which new business would grow fastest. When asked which project would scale the most, executives said they were optimistic about meaningful growth in all of them. Meta’s third-quarter 2026 results will be the first financial update since the launch, providing the initial chance to hear whether Muse’s early users are converting into regular ones.
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