WASHINGTON: In a highly anticipated move, Meta’s Mark Zuckerberg has launched Instagram’s new platform, Threads, delivering a blow to his rival, Elon Musk. Zuckerberg welcomed users to Threads with a post saying, “Let’s do this. Welcome to Threads,” accompanied by a fire emoji.
Industry analysts predict that Threads’ integration with Instagram will give it a substantial user base and advertising potential, potentially redirecting ad dollars from Twitter. Twitter’s new CEO has been working to revive the struggling company.
Although Threads is a standalone app, users can log in using their Instagram credentials and follow the same accounts, making it a seamless addition for Instagram’s over 2 billion monthly active users.
“Investors are excited about the possibility of Meta creating a ‘Twitter-Killer’,” said Danni Hewson, head of financial analysis at AJ Bell.
Meta’s stock closed up 3% on Wednesday, surpassing gains by competitor tech companies as the broader market declined.
The launch of Threads comes amidst an ongoing rivalry between Zuckerberg and Musk, who have engaged in public exchanges and even threatened to have a physical fight.
Threads arrives at a time when Twitter has faced challenges due to Musk’s controversial decision-making. Since Musk’s acquisition of Twitter last October, the platform has experienced a decline in value and suffered setbacks with advertisers and content moderation.
Although advertising is not yet a priority for Threads, big brands are expected to invest in the platform to take advantage of its relative brand safety and capitalize on early buzz.
Brands such as Billboard, HBO, and Variety, as well as celebrities like Shakira and former Meta COO Sheryl Sandberg, have already set up accounts on Threads. The app does not currently display ads.
Meta has been reaching out to social media influencers to promote Threads and encouraging them to post regularly. Some influencers have expressed gratitude for early access to the app.
While several Twitter competitors have emerged, such as Mastodon, Post, Truth Social, and T2, they remain relatively small compared to Twitter. Meta’s new platform has the potential to rival Twitter’s size by attracting just a quarter of Instagram’s users.
However, there are challenges for Threads. The news-oriented culture on Twitter differs from the more visual platform of Instagram. Experts question whether avid Twitter users will immediately switch to Threads.
Despite these challenges, Meta’s primary goal is to grow its user base and establish Threads as a worthy competitor in the social media landscape.
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