META'S Threads racked up more than 30 million sign-ups within about 18 hours of its launch, emerging as the first real threat to Elon Musk-owned Twitter, as it took advantage of its access to billions of Instagram users and a similar look to that of its rival.
Dubbed as the "Twitter-Killer", Threads was the top free app on Apple's App Store in the UK and the U.S. on Thursday. Its arrival comes after Meta CEO Mark Zuckerberg and Twitter's Musk have traded barbs for months, even threatening to fight each other in a real-life mixed martial arts cage match in Las Vegas.
"The cage match has started, and Zuckerberg delivered a major blow. In many ways, it's exactly what you'd expect from Meta: Stellar execution and an easy-to-navigate user interface," Insider Intelligence principal analyst Jasmine Enberg said.
Twitter responded on Thursday by threatening to sue Meta, according to the publication Semafor, citing a letter delivered to Zuckerberg by a lawyer for Twitter. Twitter was not immediately available for comment. Reuters could not immediately verify the Semafor report.
Meta said no one on the Threads engineering team is a former Twitter employee.
Numerous competitors to Twitter have sprung up following Musk's $44 billion purchase of the social media platform last year, which was followed by a series of chaotic decisions that have alienated both users and advertisers. Musk's latest move involved limiting the number of tweets users can read per day.
Twitter's stumbles make room for a well-funded competitor like Meta Platforms, analysts and experts said, particularly because of its access to Instagram users and its advertising strength.
"Meta's release of Threads came at the perfect time to give it a fighting chance to unseat Twitter," said Niklas Myhr, professor of marketing at Chapman University, referring to the turmoil at Twitter after it limited the number of tweets users can see.
"Threads will be off to a running start as it is built upon the Instagram platform with its massive user base and if users adopt Threads, advertisers will be following closely behind."
Other competitors have found limited success. Mastodon, another Twitter-like app, has 1.7 million monthly active users, according to its website, while Twitter co-founder Jack Dorsey-backed Bluesky has about 265,000 users.
Twitter had 229 million monthly active users in May 2022, according to a statement made before Musk's buyout.
THREADS HAS CERTAIN LIMITATIONS
While Threads is a standalone app, users can log in using their Instagram credentials, which makes it an easy addition for Instagram's more than 2 billion monthly active users.
Threads' launch was clearly a first stab at a service as it currently lacks the bells and whistles of Twitter.
"There should be a public conversations app with 1 billion+ people on it. Twitter has had the opportunity to do this but hasn't nailed it. Hopefully we will," Zuckerberg said on Threads, where he now has a million followers.
Threads does not have hashtags and keyword search functions, which means users cannot follow real-time events like on Twitter. It also does not yet have a direct messaging function and lacks a desktop version that certain users, such as business organizations, rely on.
Some users including tech reviewer Marques Brownlee posted about the need for a feed that only consists of the people one follows. Users currently have little control over the main feed.
Twitter CEO Linda Yaccarino, who was hired by Musk in May to shore up advertiser confidence, said in tweet on Thursday that "everyone's voice matters" on the app. "We're often imitated -- but the Twitter community can never be duplicated."
Currently there are no ads on the Threads app and Zuckerberg said the company would only think about monetization once there was a clear path to 1 billion users.
Existing ad relationships from Instagram and Facebook should help Threads' revenue, said Pinar Yildirim, associate professor of marketing at the University of Pennsylvania's Wharton School.
"Facebook is a less uncertain bet compared to Twitter and a bigger player in the ad market."
Some analysts said Threads was reminiscent of Meta's success in integrating crucial features of platforms such as Snapchat and TikTok in the case of Instagram's Stories and Reels.
At least four brokerages raised their price target on Meta, whose shares have already more than doubled in value this year.
On Thursday, Meta shares were down 0.2%, after rising 3% on Wednesday ahead of Threads' launch.
Reuters
Fri Jul 07 2023
While Threads is a standalone app, users can log in using their Instagram credentials, which makes it an easy addition for Instagram's more than 2 billion monthly active users. - REUTERS
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.