Victoria Park, Brittany Adams
December 05, 2023
Threads: Boom or Bust?
On July 6th EST, Meta launched Threads, a text-based sharing app and rival to Twitter, racking in over 30 million users in the first 24 hours. A wide array of brands from media companies to fast food giants have already jumped on the Threads bandwagon. Of note, Bravo, MTV, Netflix, Wendy’s, ASOS, MLB, Pretty Little Thing, Instagram, National Geographic, McDonald’s, American Eagle, Ryanair, Trip Advisor, Disney Parks–just to name a few.
Some argue that this early adoption by brands has given the platform a “weird vibe,” but note that although the platform doesn’t have advertising yet, it could in time become an appealing place for advertising dollars previously spent on Twitter, which has lost 50 percent of its ad revenue, according to Twitter owner Elon Musk.
As the platform is in its early public stages, all content is organic. As of now, monetization and advertising for brands and creators have not been announced, though it will be a notable place for organic engagement and brand announcements as the algorithm is so new. Many have begun to tout it as a brand-safe option where “tweet-like” content can remain relevant for social audiences without the advertising risk of Twitter 2.0.
Though it’s still too soon to call, Threads’ audience integration with Instagram, early brand adoption, and impressive download rate in its first 24 hours could make it a strong contender. Still, many questions remain about the longevity of Threads, given recent news it has experienced a 70% decline in the number of daily active users since its July 7 peak.
With a Twitter-shaped hole in the market, other platforms like Spill, Mastodon, and Bluesky have entered the scene over the past few months. All have promising and unique user offerings as well as audiences, but none have yet to break through as the definitive Twitter replacement for advertisers. Will Threads be the one to steal the show?