New Delhi: Meta's newly launched social media app, Threads, is on track to gain an astonishing 100 million users in under a week, according to a report by The Information. The app, tightly integrated with users' Instagram accounts, presents itself as a viable alternative to platforms like Twitter, which was acquired by Elon Musk last year.
Threads, which made its debut on July 6th, has already witnessed over 5 million users signing up. This app allows individuals to share photos, videos, and text exclusively with their close friends within a more private setting compared to Instagram. It features several functionalities intended to facilitate seamless connections, including read receipts and a close friends list.
While Threads skyrockets in popularity, Twitter has reportedly experienced a decline in traffic following Musk's acquisition. Sensor Tower's report reveals that Twitter's daily active users (DAUs) witnessed a 10% decrease in the week subsequent to Musk's announcement. Additionally, the report indicates a 12% decline in Twitter's weekly active users (WAUs) during the same timeframe.
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The cause of Twitter's traffic decline remains uncertain, but experts speculate it may be attributed to Musk's planned modifications to the platform. Musk has expressed a desire to foster a more open and free speech-friendly environment on Twitter, which could potentially alienate certain users. Furthermore, Musk has also expressed intentions to combat spam, which might further contribute to the drop in traffic.
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The launch of Threads and Twitter's traffic decline exemplify the intensifying competition within the social media landscape. Meta clearly aims to challenge Twitter's dominance with Threads, and its early success hints at potential repercussions for the established platform. The app poses a significant threat to Twitter's market supremacy, although only time will reveal the full extent of its impact.
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