June 16 (Reuters) - Meta Platforms META.O said on Tuesday its Threads app had reached 500 million monthly active users, nearly three years after the social network platform was launched as a competitor to Elon Musk's X.

The social media company also announced new customization and community features on the platform.

Here are some details:

• Threads is rolling out "Your Algo", a feature that lets users privately control the content they see in their feeds. It is available in the United States, Canada, the UK, Australia and New Zealand.

• Meta is expanding its Communities feature, allowing users to discover and participate in topic-focused groups more easily.

• The company said communities have become a major driver of engagement on Threads. Meta is adding a dedicated Communities hub and new discovery tools designed to help users find conversations centered on specific interests.

• The milestone comes as Meta continues to expand Threads' advertising business, putting the platform in more direct competition with X for digital advertising dollars.

• Meta launched Threads in July, 2023.