Mark Zuckerberg’s Threads, the social media platform launched by Facebook (now known as Meta) as a “sanely run” alternative to X/Twitter, is grappling with a significant decline in user attraction, ranking it near the bottom of the most popular social media platforms. A new analyst report has revealed that the troubled platform ranks only ahead of social media also ran Tumblr for user acquisition.
CNBC reports that upon launch, Facebook’s Threads appeared poised to become a formidable player in the social media landscape. However, recent data reveals a different story, with Threads struggling to maintain even a shadow of its initial momentum and facing stiff competition, particularly from its closest rival, X/Twitter.
Mark Zuckerberg Meta Selfie (Facebook)
Threads, a supposedly “sanely run” Twitter clone, now finds itself ahead of only Tumblr in the race for user acquisition in the U.S., according to recent forecasts by Insider Intelligence. The forecasts predict a U.S. user base of 23.7 million for Threads in 2023, a stark contrast to the 56.1 million anticipated U.S. users of X/Twitter, its direct competitor. This places Threads far behind other social media giants like Facebook, Instagram, and TikTok, which boast user bases of 177.9 million, 135.2 million, and 102.3 million respectively.
The initial surge in Threads’ user base can be attributed to its seamless sign-up process for existing Instagram users and its positioning as a mainstream alternative to X/Twitter. However, the app has witnessed a severe decline in usage, with several mobile analytics firms documenting this diminishing user interest.
Jasmine Enberg, a principal analyst at Insider Intelligence, remarked, “Threads received an initial boost from Twitter’s missteps, but it can’t rely on X defectors to continue to grow.” This statement underscores the need for Threads to carve out its unique identity in the crowded social media market, rather than merely serving as an extension of Instagram or an alternative to X/Twitter.
The potential imposition of a monthly subscription fee on X/Twitter users by Elon Musk, as mentioned in a recent talk, could present an opportunity for Facebook to find a clearer avenue to monetize Threads. “Assuming Musk doesn’t backtrack, the move will likely alienate more X users and potentially increase advertiser interest in Threads,” Enberg added. However, Meta CEO Mark Zuckerberg has previously emphasized that the company has no plans to monetize Threads until it achieves greater growth and establishment.
Read more at CNBC here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.