Threads, the conversation-based app developed by Meta, has already become the fastest growing app in terms of downloads in just over a week. As per many media outlet reports, it is speculated that the launch of Threads is now the major reason for Twitter’s downfall. However, a recent report from Morning Consult survey, has tracked the brand data, revealing that Threads owes its early success to several key factors such as impeccable timing, purposeful positioning, and strong backing.
Twitter finds itself at a pivotal moment as Threads enters the scene. The highlights that Twitter has experienced significant uncertainty since Elon Musk took over as CEO in October. A considerable number of major advertisers who suspended their advertising on Twitter during that period have yet to return. As per the report, confidence in Twitter has waned, even among its own user base, making it an opportune time for an alternative like Threads to emerge.
Unlike Twitter, Threads positions itself as a positive, less political, and better moderated alternative. Twitter’s approach of fostering controversy does not resonate with all users, and Threads capitalizes on this sentiment. The platform’s commitment to maintaining the same moderation guidelines as Instagram has garnered a positive impression among users. According to the Morning Consult survey, since its launch, 23% of Threads users already primarily use the app, while 38% use both Threads and Twitter equally.
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Moreover, the report implies that Threads is not solely competing with Twitter; it faces off against Instagram and Meta’s social media empire. With Instagram boasting a massive user base of 2.35 billion monthly active users, compared to Twitter’s 535 million “monetizable” monthly active users, it becomes evident that Instagram’s brand power and Meta’s expertise play a pivotal role in Threads’ success.
As per the survey, Threads has the potential to differentiate itself by embracing decentralization. Meta has revealed that Threads is working on supporting ActivityPub, a decentralized social networking protocol that could allow users to interact with Threads content on different supporting apps. Although mainstream adoption of decentralized services remains divided, Meta’s influence could propel it into the mainstream.
Advertisers, who abandoned Twitter due to concerns over hate speech, are keen to channel their resources into a platform where their content is safe. Threads doesn’t need to be perfect; it simply needs to offer a safer and more captivating alternative to Twitter for users and advertisers alike to secure its position as the go-to conversation-based social media app, suggests the report.
As Threads continues to gain momentum, industry observers are drawing comparisons to Google+ and iTunes Ping. However, what sets Threads apart is its business model and market positioning. With its commitment to moderation, positivity, and the potential for decentralization, Threads has the opportunity to become the default conversation-based social media app, winning over users and advertisers seeking a refreshing change., highlights the survey.
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Updated: 15 Jul 2023, 01:59 PM IST
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