03:37
Traffic jam:   0
$
91.3534
99.1061

Instagram Launches Threads App: A Potential Challenger to Musk's Twitter Dominance

6 July 2023
3218
2 min.
8
Instagram Launches Threads App: A Potential Challenger to Musk's Twitter Dominance

Instagram and Twitter

Meta Platforms Inc.'s Instagram has unveiled Threads, a new app designed to compete directly with Twitter. This move presents the most serious threat yet to Elon Musk's struggling social media platform.

Threads allows users to post text and links, as well as reply to and repost messages from others. It offers the convenience of porting over existing follower lists and account names from Instagram, which boasts over 2 billion users and includes major brands, celebrities, and creators.

Early Success and Aspirations

Within its first seven hours, Threads garnered over 10 million sign-ups, according to Meta founder Mark Zuckerberg. However, this number still pales in comparison to Twitter's more than 300 million user base. Zuckerberg expressed the ambition to create a public conversations app with over 1 billion users, criticizing Twitter's inability to achieve this goal.

User Demand and Inspiration

According to Connor Hayes, Vice President of Product, Instagram received feedback from influential users who sought an alternative to existing text-based apps. These users desired to avoid starting from scratch and rebuilding their following from zero. Although not explicitly mentioned, this feedback was likely directed at Twitter.

Twitter's Struggles

Since Elon Musk's acquisition of Twitter for $44 billion in October, the platform has faced challenges, including layoffs, content moderation issues, and technical difficulties. Financially, Twitter has seen a significant decline in advertising revenue, prompting the hiring of a new CEO to improve relationships with brands.

Growing Demand for Alternatives

Twitter's recent restrictions on the number of daily tweets users can view, albeit temporary, have driven users to seek alternative platforms. However, previous challengers to Twitter, such as Bluesky and Mastodon, have struggled to build large networks capable of rivaling Twitter's reach. Additionally, many alternative networks are still developing effective systems to manage harmful content.

Threads' Advantages

Threads benefits from Instagram's infrastructure and rules, keeping content safe. It aligns with Instagram's verification process for blue badges. It also uses the ActivityPub protocol like Mastodon for future interoperability.

Persons2 and Companies6 in the news

CEO of Tesla
1 place
Internet entrepreneur and philanthropist, CEO of Facebook
2 place
Bluesky
1 place
Threads
2 place
Mastodon
3 place
Meta Platforms
4 place
X (Twitter)
5 place
Instagram
6 place
Section:
Source foto:
pexels.com

Discussion

Rating companies
JP Morgan Chase
16 Mention
Instagram
13 Mention
Tesla
12 Mention
Walt Disney Company
11 Mention
Nasdaq
9 Mention
Amazon
9 Mention
Ford Motor Company
9 Mention
Netflix
9 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Population
8107062283
Died this year
10438601
Born this year
25680806