Last week, we discussed the latest changes announced by Twitter’s CEO regarding the platform. Not even a week after those changes became a reality and we all started discussing how “600 tweets a day might not be enough” and how “this is the end of Twitter (again)” Meta launched Threads: “a new app, built by the Instagram team, for sharing text updates and joining public conversations.“
My first thought here was: “Weren’t they supposed to fight in a cage instead of online?” – but then I realized this is more than just “a fight”.
#SocialMediaWars
It is important to note that while Meta’s platforms tend to be in the lead, they are not the only ones that exist. After a quick Google Search, I found a couple of websites (including this article from Influence Marketing Hub) that mention there are at least 128 different social media platforms. Let that sink in for a second. Most of us, regular mortals, have probably one profile (maybe two) on the top Social Platforms but we technically have over 128 options to share and engage – and each platform is different.
We should recognize that the rise of social media has revolutionized the way we communicate, share information, and connect with others – including the way we advertise and do business – as the leaders become household names, with billions of users collectively. And the users are the cause and ultimate goal of the war: the different platforms have engaged in fierce competition, employing various strategies to capture and retain users while striving to differentiate themselves through unique features, user experiences, and target demographics.
The objective of each platform is to get your attention, time, and engagement. And Meta’s Threads App is nothing but an attempt from Meta to eat a market that Twitter might be losing.
Is Twitter Ok?
Over the past nine months (Twitter was acquired by Elon back on October 27th, 2022), Twitter has been involved in a of controversies: from massive layoffs to not being able to pay their rent – from certain perspectives, Twitter seems to be a dumpster fire that just keeps burning. And while Elon Musk told the BBC that Twitter was seeing record user engagement and even said that the view limits have NOT affected advertising at all, numbers seem to be showing a different story.
According to Similarweb, Twitter Traffic did trend down between January and March this year and they are not the only ones who have reported issues. Twitter’s revenue has been declining, and lawsuits are piling up.
If we ignore that little voice insisting that “everything is ok” things don’t look promising for Twitter.
The Rise of Threads
The launch of Threads was probably more planned than we thought. Meta is known for their “adaptability” (you know which adaptability I am talking about): it was just a matter of time for them to develop a rival for Twitter the same way they have tried to compete with Snapchat and TikTok. The recent events made this the perfect timing to launch Threads and look to gain some market.
While some users are not willing to abandon Twitter, and some others think they are living “a nightmare” having to sign up for yet ANOTHER platform (not like there are at least 128 of them), Threads reached 100 million users within five days. Of course, I am not going to get tired of saying this: it is too early. While 100M users in five days is an impressive achievement, there are a lot of factors we should consider BEFORE declaring Threads as “the next new thing”. Sign-ups and downloads are NOT the same as active and engaged users.
While Threads seem to have appeared out of nowhere and spread like wildfire, we have to consider the competitive advantage that being under Meta’s wings gives Threads: they are a new platform that did not need to start from scratch. By requiring Threads to be linked to the users’ Instagram profile Meta guaranteed Threads to have a whopping 2.5 BILLION potential users to target. That is an advantage that no other platform has had in the past – every move that Meta does is calculated.
Is Threads better than Twitter?
The dynamic between Threads and Twitter is intriguing: Threads embodies the excitement and novelty factor, with users eager to explore its functionalities and algorithm. Meanwhile, Twitter boasts a well-established platform with a committed user base. Although similar, they represent two distinct worlds.
Each platform has its pros and cons, and – from my perspective at least – it is hard to tell “who is best” as each user has their preferences. Feature-wise, Threads has a higher character limit, but Twitter has the Trending Tab and search capabilities that Threads lacks.
Only time will tell us who is “better” and who will survive this war. In the opinion of this SocialHolic here, while things do not look great for Twitter, it is still a bit early to build the bird a casquet, in the same way, it is still too early to give Threads a throne. However, we shall recognize Meta’s team are great marketers and KNOW what they are doing.
Who do you think will survive at the end of this battle? Feel free to share your thoughts in the comment section.
