The introduction of Meta Platforms’ Twitter rival, Threads, has made a significant impact in the social media landscape, surpassing 100 million sign-ups within five days of its launch.
This achievement dethrones Microsoft-backed OpenAI’s ChatGPT as the fastest-growing online platform to reach this milestone, news reports suggest. Threads’ rapid user growth has been fueled by organic demand, with prominent figures such as celebrities and politicians joining the platform, signaling a potential threat to Elon Musk’s microblogging app, Twitter.
While Threads’ accomplishment is noteworthy, it still has a long way to go to catch up to Twitter, which boasted nearly 240 million monetizable daily active users as of July last year. However, the speed at which Threads has gained popularity is impressive, considering the short timeframe. The app’s success can be attributed to its similarities to Twitter, as users who may have become dissatisfied with Musk’s management of the platform sought out alternative options.
Despite Threads’ initial success, the app currently faces certain limitations. It lacks a direct messaging function, which is a key feature for many users, particularly businesses. Additionally, the absence of hashtags and keyword search functions hinders its appeal to advertisers and limits its ability to serve as a real-time event platform like Twitter. These shortcomings may affect its long-term viability and ability to compete effectively.
Twitter’s response to Threads’ emergence has been defensive, with threats to sue Meta, alleging the use of trade secrets and confidential information in the development of the app. However, legal experts suggest that proving such claims may be challenging. The turmoil surrounding Twitter, including recent restrictions on the number of tweets users can view, could work in Threads’ favor by attracting both users and advertisers seeking an alternative platform.
Monetization is not currently a priority for Threads, as Meta’s CEO, Mark Zuckerberg, stated that the company would consider it once they reach a clear path to 1 billion users. This approach aligns with Meta’s strategy of prioritizing user growth and engagement before implementing revenue-generating strategies.
Instagram head, Adam Mosseri, clarified that Threads is not intended to replace Twitter but rather focuses on lighter subjects such as sports, music, fashion, and design. However, as politics and hard news inevitably surface on Threads, it may pose a challenge for the app’s positioning as a “friendly” option for public discourse online.
OpenAI has started working with several enterprise clients to monetize its innovative ChatGPT and is offering several use cases.
ChatGPT currently has over 100 million users. The website currently generates 1.8 billion visitors per month. This user and traffic growth was achieved in a record-breaking three-month period (from February 2023 to April 2023).
In conclusion, Threads’ achievement of surpassing 100 million sign-ups in a short period is remarkable. It has emerged as a viable competitor to Twitter, driven by organic demand and dissatisfaction with existing platforms. However, Threads still faces several challenges, including the need to enhance its features, address limitations, and overcome Twitter’s established user base. The success of Threads in the long term will depend on its ability to differentiate itself and provide a compelling alternative in the highly competitive social media landscape.
