Meta’s New Platform Threads is Called a Potential ‘Twitter-Killer’

Threads is intertwined with Meta’s Instagram, and may have the ability to link the personal with the professional.

Meta’s New Platform Threads is Called a Potential ‘Twitter-Killer’
Photo of Kevin Coroneos of the Investment Company Institute

WASHINGTON, July 7, 2023 – Meta’s new social media platform released on Wednesday, Threads, is the potential end of Twitter, said panelists at a National Digital Roundtable Advisory Board event on Friday.

The app provides billions of users with an alternative to Twitter amidst growing dissatisfaction with the Elon Musk-owned social media platform. Outrage ensued when Musk announced on July 1 that most Twitter users would be limited to reading just 600 tweets per day on a tier system that limits tweets based on verification status and length of subscription.

In an official release, Twitter claimed the tweet limit was “to ensure the authenticity of our user base” and to “remove spam and bots from our platform.” The company’s new CEO, Linda Yaccarino, tweeted that “when you have a mission like Twitter – you need to make big moves to keep strengthening the platform.”

Thread took advantage of Musk’s announcement and paid off in how many users immediately joined, said Kevin Coroneos, director of digital advocacy strategy at the Investment Company Institute.

According to Meta CEO Mark Zuckerberg, 10 million people signed up for Thread within hours of its release. The numbers continue to soar, surpassing 20 million sign-ups and placing as the number one app on the Google Play Store and App Store.

Thread bears a resemblance to Twitter in terms of appearance, allowing users to post messages, engage in conversations with others and express appreciation through likes or reports. However, it has a fundamental difference in that the account is intertwined with the user’s Instagram account, meaning that Instagram followers are automatically transferred to Thread.

The blend of two platforms that are typically personal (Instagram) and professional (Twitter) will create an unique platform that is likely to grow larger, said Patrick Kane, head of digital at British Embassy Washington. It also has the added benefit that new users do not start at square one, but instead come onto the unfamiliar platform with connections and followers from their Instagram account.

We may see more influencers moving into a world of text-based posts which they didn’t have the platform for before, said Kane.

Although it is uncertain whether Threads will prove to be the “Twitter-killer” that many propose it will be, its potential to do so will be confirmed if Threads is able to build an advertising-revenue model, said Coroneos.

Twitter is reactive and fast and it will put up a good fight, added Kane. Meta has a good chance as it already has the infrastructure to do content moderation and advertising campaigns as well as an established and engaged user base.

For some brands, Threads is the advertising platform that they were looking for, added Coroneos , suggesting that the platform may take off for companies that rely on text-heavy advertising or that market to an intellectually inclined audience base.

Thread does not currently have a large global influence, as it is not yet approved for use in the European Union and is only available to customers in the U.S. and United Kingdom.

“Our vision is to take the best parts of Instagram and create a new experience for text, ideas and discussing what’s on your mind,” Zuckerberg said in an Instagram post. “I think the world needs this kind of friendly community, and I’m grateful to all of you who are part of Threads from day one.”

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