Meta’s Threads, a real-time messaging app, is facing a challenging time in attracting new users. Despite its blockbuster debut in July, the Twitter clone has failed to maintain its popularity and is now ranked among the least popular social media platforms, with only Tumblr trailing behind, according to a forecast by Insider Intelligence. With Facebook, Instagram, and TikTok dominating the market, Threads has a long way to go, projected to have only 23.7 million U.S. users by 2023, far less than its competitors.
Threads is set to have less than half the U.S. user base of its closest rival, X, which is projected to have 56.1 million users by 2023. This worrying statistic places Threads as the second-to-last among social networks in the U.S. market through 2025, according to the analyst firm. The struggle to gain significant traction demonstrates the difficulties Meta’s app is facing in a highly competitive landscape dominated by well-established platforms. Despite its initial surge in users, thanks in part to its seamless integration with existing Instagram accounts, Threads can no longer rely on X defectors to sustain its growth.
Elon Musk, the owner of X, holds a significant amount of influence over the market. If Musk decides to implement a monthly subscription fee for X users, as he has mentioned, Meta may have an opportunity to increase its user base and monetize Threads. However, such a move could also further alienate X users and potentially push them towards alternative platforms. Nevertheless, it may pique the interest of advertisers, potentially benefiting Threads from an increased advertiser presence.
Meta CEO Mark Zuckerberg has previously stated that the company has no immediate plans to monetize Threads until it reaches a certain size and establishes its presence in the market. In the meantime, Meta has been actively releasing new features for the app to enhance its appeal, including a desktop version and a search tool. Both advertisers and creators have expressed the need for additional features, such as analytics tools, to propel Threads into a more robust platform that warrants investments of time and money.
In order to truly compete in the social media market, Threads needs to go beyond being perceived as an extension of Instagram or simply an alternative to X. Principal analyst Jasmine Enberg from Insider Intelligence highlights the importance of Threads developing a distinct identity. She suggests that the app needs to offer users a unique social experience to make an impact, drawing a parallel with TikTok’s success. TikTok was able to break through and rise to prominence by delivering a fresh and unparalleled social experience to its users, a factor Threads needs to consider to secure its position in the market.
The struggle faced by Meta’s Threads in attracting new users and establishing itself as a significant player in the social media market is evident. The app’s declining popularity, coupled with the dominance of platforms such as Facebook, Instagram, and TikTok, indicates that Threads has an uphill battle ahead. Whether Meta’s app can find a way to differentiate itself and offer users a unique experience will determine its future success. With careful consideration of user needs, market competition, and the potential impact of influential figures like Elon Musk, Meta may yet find a solution to reverse Threads’ current trajectory and position it as a competitive force in the social media landscape.
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