With the apparent self-implosion at Twitter, dropping in revenue and users since the Elon Musk takeover, Instagram-parent Meta is attempting to break into the microblogging scene with Threads.
The timing of Threads launch couldn’t be more advantageous for Instagram, with Twitter recently announcing a temporary measure limiting the amount of tweets that can be viewed in one day.
Threads works in a similar way to Twitter, where a mix of short posts from accounts followed and accounts algorithmically selected as “of interest” are sorted in a feed, which updates regularly.
Instagram, or more appropriately Meta, has not been afraid of being labelled a copycat in the past. In 2016, it launched Stories, a rip-off of Snapchat Stories. More recently, it launched Reels, a direct competitor to TikTok, which reshaped how Instagram was used and introduced the algorithmic features that are prominent on Threads.
Unlike the other two times, Instagram is not launching a product to fend off a competitor’s growth, but seems to be attacking at a time of weakness for Twitter. Not only has Twitter seen a decline in overall usage, but advertisers have left the platform in droves since the Musk takeover, something that Meta is keenly aware of and is looking to exploit.
Threads is being marketed as a safer, moderated microblogging experience, which appears to be in stark contrast to Musk’s “free speech paradise” Twitter, which has pulled back on the resources for moderators over the past few months. This may entice advertisers over, but only if the users who’ve signed up for Threads stick around and are active posters.
Threads has had a huge amount of sign-ups in its first week, surpassing ChatGPT to become the fastest app to reach 100 million sign-ups, which it reached in five days. According to The Verge, there were 95 million posts in the first 24 hours, and 190 million likes.
There have been plenty of Twitter alternatives launched since the takeover, but Threads is likely to be the biggest threat to Twitter long-term. The question is can a mix of Instagram followers and brands create an active microblogging community similar to Twitter? Or will users drop-off once the hype surrounding the app dies down over the next few months?
Threads Key Statistics
- Threads had over 100 million sign-ups in its first five days, surpassing ChatGPT to become the fastest app to reach 100 million users
- One analyst projected Threads revenue to reach $8 billion by 2025
- At the current rate of sign-ups, Threads may surpass Twitter’s monthly active users by September
|Title 1||Title 2|
|Launch date||July 2023|
|HQ||Menlo Park, California|
|People||Adam Mosseri (CEO), Mark Zuckerberg (Meta CEO)|
Threads reached 100 million users within the first five days of launch, the fastest app to reach that milestone. Active users have declined since then, dropping by about 75 percent.
Sources: Meta Platforms, Sensor Tower
Threads Forecast Revenue
An analyst at Evercore ISI estimated that Threads could contribute $8 billion to Meta’s bottom-line by 2025.
|Year||Forecast revenue ($bn)|
Source: Evercore ISI
Threads vs Twitter: Users
Who owns Threads?
Meta Platforms, the holding company which operates Facebook, Instagram, and WhatsApp, owns Threads.
How many posts have been published on Threads?
Over 95 million posts were published on Threads in the first 24 hours.
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