Thread hopes to do what Twitter failed to do

Twitter has a new competitor as tech giant Meta launched Threads - an app for sharing short text content - which has reached over 100 million users in just the first 5 days of its launch.

Threads is a platform that allows users to post content of up to 500 characters. (Source: CNN)

Threads' outstanding performance quickly attracted the attention of many businesses.

Advertisers are watching Mark Zuckerberg’s new Threads platform to see how it develops over the next few months, CNBC reports, as they look for a new social media channel to reach users, especially in the increasingly chaotic Twitter landscape.

CNN said that Meta also has an advantage over Twitter in terms of its existing user base, with more than 2 billion active Instagram accounts, while Twitter only has about 250 million accounts.

"It's going to take some time, but I think there should be a public conversation app with over a billion people on it. Twitter had the opportunity to do that and it didn't work out. Hopefully we will," Zuckerberg stressed.

Rachel Tipograph, CEO of media company MikMak, said their clients are also interested in advertising opportunities on Threads.

This group of businesses is always trying to find new approaches, especially as brand safety issues grow on Twitter.

However, experts also said that it is still too early to know whether the launch of Threads will affect Twitter's ad sales.

On Twitter's side, on July 15, billionaire Elon Musk - the owner of this social network - said that this platform is recording advertising revenue cut in half. Twitter is still having negative cash flow, due to advertising revenue falling 50% plus the burden of debt.

Since taking over Twitter in a $44 billion deal last fall, Mr. Musk has tried to reassure advertisers, many of whom have expressed concerns about a series of layoffs of top executives and employees and new content moderation policies.

Source