New Delhi: Meta, the parent company of Instagram, has launched its highly anticipated Threads platform, a direct competitor to Twitter. Zuckerberg announced the launch of Threads on the app with a fiery message, signaling the start of the battle between the two social media giants.
The move comes amid an ongoing rivalry between tech billionaires Mark Zuckerberg and Elon Musk, who have traded barbs and even threatened a real-life mixed martial arts fight.
Investors are eagerly anticipating the potential impact of Threads, as its integration with Instagram could provide a built-in user base and advertising system. This could divert ad dollars away from Twitter, which has been struggling to revive its business under a new CEO. Danni Hewson, head of financial analysis at AJ Bell, expressed excitement about the possibility of Meta having a “Twitter-Killer.”
While Threads is a standalone app, users can log in using their Instagram credentials and follow the same accounts, making it an easy addition for Instagram’s massive user base of over 2 billion monthly active users. Meta’s stock saw a 3% increase ahead of the launch, outperforming other tech companies in the market.
The timing of Threads’ launch is advantageous for Meta, as Twitter has been facing challenges due to Elon Musk’s controversial decisions as its owner. Since Musk’s acquisition of Twitter for $44 billion last year, the platform has experienced a decline in value, losing advertisers and facing content moderation controversies.
Although advertising on Threads is expected to be introduced gradually after focusing on user growth, major brands are anticipated to invest significant ad spend on the platform. Brands such as Billboard, HBO, and Variety, along with celebrities like Shakira and former Meta Chief Operating Officer Sheryl Sandberg, quickly set up accounts on Threads. However, no ads were visible during a Reuters review of the app.
Meta has been reaching out to social media influencers to promote Threads, encouraging them to post frequently. The company aims to attract users to the new app and capitalize on its early buzz.
Despite Meta’s efforts, Threads may face an uphill battle in capturing the attention of dedicated Twitter users who rely on the platform for news and real-time events. The news-oriented culture of Twitter differs from the visual focus of Instagram, making it unlikely that avid Twitter users will immediately switch to Threads. Meta has encountered challenges in the past with standalone apps, such as its failed attempt to compete with TikTok through the Lasso app.
As the competition between Meta and Twitter intensifies, it remains to be seen how users and advertisers will respond to the launch of Threads and whether it can truly challenge the dominance of Twitter in the social media landscape.
