.svg)
Latest Business News
The Launch of Threads Slows Twitter User Traffic
Threads: A More Positive Public Square
Since its launch last week, Meta's text-based platform Threads has already garnered over 100 million sign-ups, surpassing Twitter in user traffic according to a third-party tracker. Touted as a more positive "public square" by Meta executives, Threads has attracted users who have not previously embraced Twitter. CEO Mark Zuckerberg expressed his surprise at the platform's success, with the social media platform already reaching 70 million sign-ups in just a few days.
Twitter Takes a Hit
Twitter seems to have been impacted by the popularity of Threads, with CEO of Cloudflare, Matthew Prince, sharing a screenshot showing the decline in traffic on the platform. Twitter's response to inquiries on the matter was an automated message, while Meta did not immediately respond. The slowing user traffic on Twitter may be a result of Threads' integration with Meta's Instagram, allowing users to sign up with their existing handles and retain their following.
Threads' Rapid Growth and Potential
Threads has achieved the milestone of 100 million sign-ups even faster than OpenAI's generative chatbot, ChatGPT. Despite this early success, Threads has not yet launched in Europe due to regulatory complexities. If Threads continues to retain its user base, it could become a strong competitor for Twitter, which reported nearly 238 million daily active users in its last quarterly earnings report. Twitter owner Elon Musk has expressed concern about Threads, with his lawyer accusing Meta of stealing trade secrets.
Musk and Zuckerberg's Feud
Elon Musk and Mark Zuckerberg have engaged in a public feud, with Zuckerberg mocking Musk's tweet style and Musk reciprocating with derogatory comments about Zuckerberg. The tension between the two tech moguls adds an additional layer of competition between their respective platforms.
Threads' Impact on New Businesses
The launch of Meta's text-based platform Threads and its rapid rise in user traffic have significant implications for new businesses in the social media industry. With over 100 million sign-ups in a week and surpassing Twitter's user traffic, Threads has proven its appeal to users who have not previously embraced Twitter. This suggests that there is a demand for a more positive and user-friendly public square in the digital realm.
For new businesses entering the social media market, the success of Threads highlights the importance of creating platforms that prioritize positivity and user experience. By offering solutions to prevalent issues on established platforms, businesses can attract new users and disrupt the existing landscape. The decline in Twitter's user traffic after the launch of Threads further emphasizes this point, demonstrating how innovative platforms can quickly disrupt the market and draw users away from established competitors.
However, new businesses should also be aware of the challenges they may face. Regulatory complexities, as demonstrated by Threads' delay in launching in Europe, can present significant hurdles that need to be navigated. Additionally, the potential for legal disputes, such as the ongoing feud between Elon Musk and Mark Zuckerberg, reminds new businesses of the competitive nature of the industry.
Overall, the success and impact of Threads on Twitter's user traffic highlight that there is room for new businesses to enter and thrive in the social media market. By addressing the shortcomings of current platforms and providing a more positive user experience, innovative startups have the potential to disrupt the industry and attract a significant user base. However, they must be mindful of regulatory challenges and anticipate potential competition and legal disputes along the way.
Article First Published at: https://www.cnbc.com/2023/07/10/twitter-traffic-is-nosediving-as-metas-threads-hits-100-million-users.html
