Threads: The Next Big Thing?
By Joel Nekooie
Get ‘thready’ for another new platform…
Back in July, Meta launched its all-new Threads app, and we’re here to give you the rundown! Following the app’s official release, here’s what’s unfolded so far in the digital world.
So, what is it?
As you may have already noticed in a surge of comparison memes, Threads is pretty much Instagram’s version of Twitter, now abruptly known as ‘X’ — we’ll refer to it as Twitter for the sake of consistency. We won’t get into it too much, but the beloved bird app has been under fire recently over its latest updates, with the complete rebrand causing the most uproar right now. As Meta continues to expand its plane, this has opened up the perfect opportunity for the digital giant to swoop in with another fresh social media platform that can emulate the joy of posting and connecting with users on Twitter.
Threads initially hatched as a subsidiary of the Instagram platform, you could say. Signing up to an app has never been so easy when you have it integrated into your regular media outlet!
Shortly after the launch, Meta CEO Mark Zuckerberg stated on his personal account: “The vision for Threads is to create an open and friendly public space for conversation. We hope to take what Instagram does best and create a new experience around text, ideas, and discussing what’s on your mind.”
Adding to that thread, he said: “The world needs a friendly public space for conversation. If we do this well, then Threads can be that space. We’re going to stay focused on that as our north star.”
With that, the intention of the new app seems clear: to build a platform that is both enjoyable and the go-to for communication.
How has it been measuring up?
Zuckerberg reported on his own account that Threads passed 5 million sign-ups in its first four hours, 10 million in the first seven, then jumped to a mighty 70 million in the first 48 hours! Zuckerberg is, of course, one of the biggest accounts on the platform and has undoubtedly contributed to the titanic influx of users, frequently engaging with pretty much every type of content (yes, he even replies to our Threads).
Note that the primary reason for the whopping figures is that, as mentioned earlier, Threads is built into the Instagram platform (threaded into it, if you will), which Meta has stated has around two billion monthly active users. In comparison, Twitter estimated in 2022 that it has around 237.8 million daily active users. The Threads-Instagram link makes it incredibly easy for users to migrate over; users log in to Threads with their existing Instagram accounts. However, whilst you don’t need to create an account from scratch for Threads, it’s still a separate platform with different functions and purposes.
As a social media agency, it was important for us to seize this opportunity to boost our clients’ online reach. Our most significant achievement on Threads has been the entire development of the Bellator MMA account, which we created swiftly after the news dropped. When we pull out the statistics, we’re super proud to have achieved over 100,000 followers within the first 48 hours of Threads’ existence and to be the first North American combat sports promotion outside of the UFC to do so. Outside of the UFC, the Bellator MMA account is the most-followed North American combat sports promotion on Threads currently (and that number is still growing), which is amazing to know!
Dubbed “Twitter-killer,” Threads has in fact stood out to us as a very laid-back and experimental platform, allowing us to explore a more humorous approach, which is especially effective for one of the biggest MMA promotions in the world. We’ve definitely had a blast playing around with its features and forming a deeper connection with the community.
How long will the hype last?
Funnily enough, numbers have already started to slip. Whilst Zuckerberg himself plus a handful of social-savvy figures predict Threads to be the ‘next big thing,’ others are not so convinced that it can replace the comfort of Twitter. It is perhaps too early to say for certain whether the new platform is a hit or miss in the industry. Incidentally, for those wondering if Meta can actually run into trouble for its almost identical network, the answer is possibly; Twitter has already kicked off that dispute.
Data analytics company Similarweb can attest to a nosedive in Threads activity, reporting that the number of daily active users on the platform has dropped from 49 million to 23.6 million in just a week (its best day, July 7th, compared to July 14th), which is about 22% of Twitter’s audience. In the same report, Threads is said to lack basic features despite its initial surge, which can ultimately make it harder for users to make the switch. In addition to Threads losing half of its active users, the average 21 minutes of daily app usage has sunken to just over 6 minutes. Overall, Threads spiked in its first week, only to face a huge drop-off in active users very quickly and continue with a steady decline in metrics. We’re not saying it’s all over, but it’s certainly not a good sign.
Having said that, Instagram CEO Adam Mosseri indicates that Threads is still in its experimental phase and that they hope to introduce new features soon, such as the ability to edit, see news, and more popular requests. Threads is still a ‘newborn’ app, there’s no doubt that it will continue to develop based on current expectations. On that same note, Threads recently unveiled its latest features: feed customisation, post translations, new ways to filter notifications, a new ‘follow’ button, and an ‘approve all’ option for follow requests.
It could still look positive for Threads, as the new Twitter chiefs continue to flip the platform on its head. Countering Elon Musk’s baseless claim that user engagement on Twitter is at an ‘all-time high,’ Similarweb reports that web and mobile usage is down. The monthly report on traffic to the social media ad portals suggested an 18.7% year-over-year drop on Twitter in March, not only failing to drive a big volume of subscriptions but facing a continued pattern of declines in ad buyer traffic. In general, Twitter traffic has actually been trending down since January; worldwide visits to the Twitter website fell a 7.3% estimate year-over-year in March, which was its third straight month of declines. As Twitter continues to introduce dramatic changes to its platform, such as the daily tweet-viewing limit of 800 for free users or the revamp of its verification system, more knock-backs can be expected. Bear in mind, amid mainstream media panic, Twitter is still the most widely used text-based social media app.
A key takeaway here is that, whilst both Threads and Twitter are experiencing negative feedback and plunges in numbers, the latter is a long-standing hit with a dedicated user base. Threads will really need to push the boundaries to keep users from abandoning the app; there is potential, but the extra stretch is necessary considering social media trends today.
The ultimate question remains: will Threads match the level of top social media platforms? Only time will tell.
Follow @UniformDigital on Threads!