Mark Zuckerberg’s Meta yesterday released its long-awaited alternative to Twitter named ‘Threads’, which has reportedly had 30 million sign ups in its first day.
The development comes at a pivotal disruption point in the social media sphere, and arguably, Zuckerberg’s timing could not have been any better, coming hot on the heels of Twitter’s controversial ‘rate limit’ imposed on unverified users.
A partner platform to Instagram, Threads will form a unique proposition for advertisers with a built-in potential user base of 2 billion globally.
Mediaocean’s chief marketing officer, Aaron Goldman, explains why this may give Threads the edge, where many others have failed. He says: “Meta’s launch of Threads captures a part of the social media ecosystem that remains unserved by other platforms in the relentless pursuit of video-first, algorithmically driven feeds like TikTok.
“When taken in combination with Facebook and Instagram, Threads gives Meta a presence across a wide spectrum of social media to serve its monthly active user base of nearly 4 billion people.”
Capitalising on the chaotic instability of Twitter since Elon Musk’s takeover in October, Zuckerberg’s new platform could be a godsend for advertisers, with the return of a serious, stable major social network no doubt proving music to many ears.
“Threads is stepping into the ring with some heavyweight competitors, with Twitter being a notable adversary. However, Twitter is having a particularly bad hair day amidst the news of Threads’ arrival,” Alfred head of social media, Rich Langrish, said.
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“The platform is rolling out significant changes while grappling with unregistered users being blocked and temporary rate limits. Elon Musk’s Tweets in response to Threads’ data collection practices? Let’s just say he’s not sending Zuck a housewarming gift…”
Does Threats pose a significant existential threat to Twitter? Musk seems to think so, having now officially threatened legal action, accusing Threads of blatantly “misappropriating Twitter’s trade secrets and other intellectual property”.
Musk has further stoked the flames with a series of cryptic Twitter exchanges concerning Threads, at one point likening the new platform to a tapeworm.
Metaphorically too
— Elon Musk (@elonmusk) July 6, 2023
Ultimately, it could argued that with behaviour like this, Musk is only serving to prove those advertisers who left his platform to be right. But Twitter has built up a strong, loyal user base over the last decade – around 450 million users at last count, and it’s a big ask to assume that all those advertisers would jump ship.
So will Threads prove to be another flash in the pan? Kantar’s head of media insights UK, Hannah Walley, advises caution above all else: “With any emerging platform, our advice to brands is always to test and learn – to track how its consumer following develops and whether it could work for them.
“There can be benefits to getting in early from an advertising point of view – businesses can use the opportunity to build their brand in a less cluttered online space. Embracing digital disruptors can help brands seem more innovative too but there can be risks of course.”
