When social media platforms like Facebook and Instagram were facing significant changes. Today, Meta Platforms (Meta), the parent company of these sites, launched a new chat-based app called Threads. The app was a new effort aimed at inspiring people to directly compete with Twitter.
Main Points
- Meta Platforms (formerly Facebook) has launched a new chat-based app called "Threads" with the aim to directly compete with Twitter. This move highlights Meta's intention to expand its presence in the public conversation and social media market.
- Twitter has been facing a decline in advertising revenue, while Instagram dominates the sponsored content market. This situation presents an opportunity for Meta to potentially surpass Twitter in terms of ad revenue and attract advertisers to its platforms.
- The launch of the Threads app indicates Meta's strategy to offer users an alternative to Twitter by providing a public chat-based environment where they can share their thoughts, images, videos, and links. This poses a threat to Twitter's market position and revenue potential, as users may shift their attention and engagement to Meta's platforms.
At this time, Twitter was dealing with a decrease in its advertising revenue, while Instagram was the market leader in ads. Elon Musk recently talked about the growth in Twitter's advertising business and expressed hope that this social media company could soon turn profitable. But according to an inside source at The New York Times, Twitter's US advertising revenue was declining and there was little to improve.
There are numerous documents and reports from current and former employees stating that this situation is not likely to improve any time soon. Elon Musk talked about the looming pressure, saying that advertisers in Europe and North America are putting a huge amount of pressure on Twitter, which is causing half of their advertising losses. As a result, many large advertising agencies and brands have frozen their advertising spend on Twitter. Elon Musk says Twitter is now reducing its earnings and according to him, the company is likely to generate $3 billion in revenue in 2023, down from $5.1 billion in 2021.
Mark Zuckerberg was also trying to supplant Twitter and wanted to provide a central place for an online public conversation, but he was not successful in achieving this goal.
In this context, Meta launched a new app called Threads, which was integrated with Instagram. The app was published on Thursday in Apple's App Store to be available for users to download. The app is realized to provide a public chat-based environment between users, much like Twitter. This app allows users to share their thoughts, images, videos, and links.
Following this meta effort, Twitter is in danger of being beaten at its own game. This new app provides Twitter users with an option to meet their needs, and it is widely planned to be used. As internal sources suggest, Twitter's ad revenue is unlikely to improve and is lagging behind their weekly sales estimates.
The originators of Meta and its new app Threads, as Twitter's strategy and advertising has slowed down, could prove to be a great struggle for them. He pointed out that US advertising revenue is declining and is down 59 percent from their previous year. The document also noted that the company routinely lagged behind its US weekly sales estimates, sometimes by as much as 30 percent.
In such an environment, the launch of the Threads app is an aggressive move, a significant move by Meta in Twitter's strategic market niche. This app provides new public discussion facility to the users and gives them a medium to share ideas and updates. This is likely to impact Twitter's competitive position and it will be interesting to see how much of lost revenue Twitter gets back in exchange for Meta as a result.
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Frequently Asked Questions
What is threads Instagram app?
Threads, an exclusive messaging platform developed by Instagram, enables users to engage in confidential dialogues with their intimate companions on the Instagram platform.
What is the point of threads app?
Threads, the most formidable competitor of Twitter, has arrived. Created by Meta, this text-based conversation app allows users to write and share messages in real-time. However, it possesses some distinct features compared to Twitter.
What is new threads app?
Threads," the brainchild of Meta, the parent company of Facebook. This innovative text-centric application, crafted by the talented Instagram team, has been unveiled. Regarded as the most potent challenger to Twitter, Threads endeavors to offer users an inclusive and welcoming public forum for engaging discussions.
Can I still use Instagram threads?
Instagram's independent chat platform "threads" is ceasing operations. The company has confirmed to TechCrunch that support for the app will be discontinued by the end of December 2021, following reports of its imminent shutdown that had started circulating on various social media platforms.
Does thread cost money?
Threads will be available as a complimentary download, with the possibility of incorporating the Meta Verified service, akin to the one introduced for Facebook and Instagram in the United Kingdom during May.
Is thread like Twitter?
Threads presents a strikingly reminiscent microjournaling encounter, akin to Twitter. Upon launching the application, users are greeted with interactive icons for appreciating, resharing, responding, or citing a "thread." Additionally, counters exhibit the tally of likes and replies garnered by a particular post.
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