Threads, the social media platform developed by Meta, emerged in early July with a remarkable entrance, amassing an astonishing 5 million user sign-ups within mere hours of its launch.
This rapid adoption positioned it as the fastest-growing app, drawing in an incredible 100 million users in just one week. However, the initial excitement that once surrounded Threads has waned over time, as indicated by the declining daily usage of the app. Despite its promising beginnings, Threads is currently facing a significant decline in user engagement. According to data from Similarweb, there has been a notable decrease of 79 percent in active users, dropping from its peak of 2.3 million in July to 576,000 by August 7.
This decline in user activity raises concerns within Meta, considering the initial excitement and rapid user acquisition that took place. Apart from that, well-known companies like Wendy’s, Anthropologie, and Rare Beauty are reducing their presence on Threads due to “Threads weariness,” which indicates discontent with the platform’s functionality. Even at its peak, Threads had less than half the daily users of Twitter, which has over 100 million active users. This shows how difficult it was for Threads to compete with Twitter. This disparity highlights how challenging it will be for Threads to dethrone Twitter as the top text-based social networking platform.
Following Elon Musk’s takeover of Twitter, Threads was initially positioned to profit from the turbulence there. Nevertheless, the substantial alterations implemented by Twitter, such as staff reductions and policy adjustments, have negatively impacted both advertising earnings and user contentment. The idea of a cage battle has been dropped despite the antagonism between Elon Musk and Mark Zuckerberg. The focus has shifted as a result of Zuckerberg’s expression of doubt about Musk’s sincerity. Concerns are raised concerning Threads’ long-term viability due to diminishing user engagement.
The lack of well-known trademarks and decreased interaction, combined with Meta’s lack of communication about the application’s performance, indicate that Threads will face challenges in recapturing its initial popularity. Despite making a splash in the social networking realm, Threads has seen a notable drop in daily usage. The challenges of revolutionizing the text-based social media industry are clear from the difficulties Threads is currently facing, alongside the changes taking place within Twitter. It is unclear how successful Threads will be as a competitor in the market.
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