- Threads, an app developed by Meta Platforms Instagram, was officially introduced as a direct competitor to Twitter, posing the most significant challenge to Elon Musk's struggling social media platform. According to Zuckerberg, Meta's new app amassed over 10 million sign-ups within its initial hours, although it falls significantly short of Twitter's user base of over 300 million.
With Musk's acquisition of Twitter for $44 billion in October, Meta sees an advantageous opportunity. Twitter has since implemented layoffs, eased content moderation policies, and faced technical challenges for users and advertisers. Financially, Twitter has suffered a 50% decline in advertising revenue, prompting the hiring of Linda Yaccarino, an NBCUniversal executive, as CEO to improve brand relationships.
Why it matters
Recent restrictions have prompted Twitter users to seek alternatives, but most direct challengers lack the reach and impact of Twitter. New alternative networks are still working on managing harmful content. Threads, however, will benefit from Instagram's infrastructure, adopting the same content rules and controls. Verified public figures on Instagram can maintain their blue badges on Threads. Twitter recently made verification a paid feature.