Twitter rival Threads launched: Will it be a long-term player?

Meta CEO Mark Zuckerberg has once again made waves with the launch of Threads as it is being pitted directly against Twitter. It is being reported that Threads is Twitter's most formidable competitor. These claims are being made because Threads has become the fastest-growing app by reaching 10 million users within a few hours of its launch on July 6. However, it is still too early to say that Threads would dethrone Twitter, owned by billionaire Elon Musk, in the coming days. 

Also, not everyone is aware of the fact that it's not the first app by Meta to use the name Threads. Meta, earlier known as Facebook, launched Threads for the first time in late 2019. It was then aimed at Snapchat but failed to achieve mainstream adoption, even after a major revamp in 2020. Ultimately, it was shut down in 2021. It is also well known that Messenger, another App by Meta, failed as a platform. Considering these things, it will be interesting to see that weather Threads meet the same fate or emerge as a long-term player 

According to Vivek Das - Ceo FoxyMoron, Zoo Media - it’s hard to say whether Threads will be a long-term player at this stage

"Threads has a native connection to Instagram (quite different from FB x Messenger - as they were distinct use cases - social network vs instant messaging). That does give it an edge over other ‘independent’ platforms, and potential longevity. However, it’s hard to say whether Threads will be a long-term player at this stage given the limited growth of text-led platforms. It will also be interesting to see where the Zuckerberg vs Musk rivalry takes both platforms as ‘fans’ up their ante in the process," Das said. 

Das feels that Meta is increasing the size of the canvas to acquire a new audience (text first) and richer data on existing audiences (cross-platform). 

"With third-party cookies deprecation on the horizon, the richer the data a media owner has, the higher the value they can command from advertisers. Brands and creators have already started jumping onto Threads with the initial user growth being on adrenaline so ad monetisation is surely a viable play," he added.

While one has to wait to see its fate, Threads' seamless integration with Instagram - a popular platform for sharing photos and videos - seems to be paying well.  

Rajni Daswani, Director - Digital Marketing, SoCheers - feels that the seamless integration with Instagram has enabled Threads to effortlessly tap into a significantly larger audience base. 

"The situation surrounding Threads is a captivating one, brimming with anticipation and excitement. It presents us with a unique and intriguing wait-and-watch scenario, as we contemplate the immense potential that Threads hold within its grasp. One of the key factors contributing to its promising prospects is its seamless integration with Instagram, enabling it to effortlessly tap into a significantly larger audience base. This direct connection catalyses for Threads to thrive and flourish," Daswani said.

ALSO READ | iQOO will stick to its DNA, says India CEO Nipun Marya on company's future strategy

This early adoption and enthusiastic exploration pave the way for a possible path to success for Threads. However, it is important to recognize that the outcome and impact of Threads can only be determined over time, through extensive experimentation and real-world user feedback. 

To truly thrive, Threads must aspire to attain the same level of engagement and loyalty that Twitter has established among its dedicated user community. This will require Threads to offer a compelling and distinctive user experience, complemented by captivating features that resonate particularly with younger audiences. 

Daswani is of the view that Threads has the potential to carve its niche and forge deep connections with its users if it manages to develop itself as a platform that encourages exploration, creativity and self-expression.

While it is too early to make a definitive judgment on which platform will come out on top, the focus should be to find out which one of them offers better features and a healthier algorithm to users. 

Hitarth Dadia, CMO and Partner at Nofiltr.Group feels that avoiding algorithms that promote angry journalism, hate comments, or negative content has been a persistent challenge, and Meta, having entered the picture more recently, may have an advantage in addressing this issue. 

"Twitter, being an established legacy platform, still holds a position of legitimacy but the competition is definitely going to be beneficial for the general public. Threads should focus on understanding the demographics of their audience and the tools they require. It is noteworthy that figures like Mosseri and Zuckerberg are actively engaged on the platform, initially responding to user suggestions and taking note of the platform's overall performance," Dadia said.

As a new platform, Threads has garnered positive reception worldwide, as people have been eager to try something fresh, not necessarily as a replacement for Twitter but as an alternative to any new experience. While the early feedback seems encouraging, it remains too soon to draw conclusive judgments.