It looks like the cage is not the only place Mark Zuckerberg wants to engage in a tussle with the Muskmeister…
Meta is pitting themselves directly against Twitter with the launch of the brand new app Threads.
Threads looks like a virtual copy cat of the Twitter platform in many respects, but with a few distinct advantages working in its favor…..Ultimately, this may prove to be enough to dethrone Musk’s text based social media platform!
When it comes to successful product launches, timing is often a key component. From that standpoint, Meta could not have picked a better moment to launch their new platform.
With the aggressive changes at Twitter over the past 8 months, big advertisers have been worried that their brand names may be tarnished, resulting in many pulling the plug on their ad campaigns.
While Musk claims that they are making their way back, data suggests that Twitter still has an inherent weakness in this regard.
For example, April’s advertising revenue was down 59% year-over-year. Furthermore, Twitter projected those numbers to be down some 56% for May…
This puts Meta in an opportune position to snatch up potential customers looking to take advantage of what Twitter has to offer as a platform, without having to expose themselves to the same level of social backlash.
It’s important to keep in mind that ad capabilities have yet to launch on Threads, but it’s likely to come in the near future once the monthly users has been ramped up.
Arguably the biggest advantage that Meta’s new app has over other Twitter copycats, is the vast user base that the company can pull from. Zuckerberg has very smartly setup the platform to allow Instagram users to use their existing accounts for Threads.
Why is this a big deal?
Instagram currently has around 1.3 billion active users compared to Twitter’s 350 million (according to Statista) – meaning that if Meta is able to get even a fraction of the user base to adopt Threads, then Twitter may be in serious trouble…
It looks like this is definitely having an impact, as the new platform already has over 30 million sign-ups!
While Musk and Zuckerberg’s cage fight hasn’t happened yet, the chess match between Meta and Twitter has commenced…..and it will be fascinating to see what Elon Musk’s counter move will be!
Until Next Time,