In an interview with The Verge, Adam Mosseri, the head of Instagram revealed that the “volatility” and “unpredictability” of Twitter as a platform under Elon Musk´s leadership opened up the possibility of competition in Meta´s eyes. However, one thing remains certain: the new platform´s focus on short{text-based content and conversation threads directly positions it as a comparable alternative to Twitter, enabling Meta to enter a space where it previously had no presence.
Who´s making noise in social media: Historically, the social media space has been dominated by a small group of companies, with Meta leading by a significant margin due to the creation of Facebook and Messenger, along with the subsequent acquisition of Instagram and WhatsApp. According to Data Reportal, these four applications hold positions in the top 7 social media platforms with the highest number of users worldwide. The remaining three platforms include YouTube (owned by Alphabet), WeChat (owned by Tencent), and TikTok (owned by ByteDance). Where does Twitter stand on this list? According to their own figures, as of April 2023, they reported having 373 million active users, placing them at number 15.
Elon´s Twitter: It is evident that Twitter users are expressing dissatisfaction with Elon Musk´s current direction and his controversial decisions, These decisions include the removal of verification badges from recognized accounts, turning them into a paid feature, users have long been requesting features such as post-editing, the ability to share longer text and videos, among others. These changes have also impacted brands that use the platform for communication, as they are also impacted brands that use the platform for communication, as they are now compelled to pay for a verification badge to assist their followers in finding them. Adding to the challenges, a report from the New York Times reveals that Twitter´s advertising revenue on the platform in the United States for April 2023 amounted to $88 million, reflecting a 59% decline compared to the same period in 2022. It appears that the platform´s significant Brand recognition and its active user community remain its most valuable assets at present.
A new contender: The launch of Threads has proven to be remarkably successful, thanks to a series of carefully considered decisions made by Meta. First and foremost, Threads is introduced in the app stores as an Instagram application. This deliberate choice clearly explains why Adam Mosseri, rather than Mark Zuckerberg, is at the helm of its communications efforts.
Unlike Meta, a conglomerate with ambitions of constructing the “Metaverse,” and Facebook, the app that serves as a hub for aunts and former classmates, Instagram has garnered favor among a more discerning audience, particularly in terms of following trends. This favor also extends to the new Threads application, which incorporates the same account system. Notably, Threads can be uninstalled at any time without compromising the Instagram account.
With an existing Instagram account, users can effortlessly establish a full-fledged Threads account with just two clicks. Undoubtedly, this streamlined process has been one of the primary catalysts behind its success. Within the first seven hours of its launch, threads amassed an impressive user base of 10 million active users. By the end of the day, the platform had accumulated over 95 million posts and garnered 50 million registered users, further solidifying its promising trajectory.
President Gabriel Boric has also joined Threads, kicking off his account with a selfie and a friendly message: “Hello! I joined Threads. How is everyone doing? I’d like to take this opportunity to share some good news from this week.” In his first Thread, he highlighted various topics, including the National Policy on Migration and Foreigners, the security measures implemented by the Executive (such as the demolition of drug lord mausoleums), the provision of permanent housing in Villa Alegre, and the evaluation of the National Education Reactivation Plan. Additionally, President Boric addressed the commencement of payments for the Recovery Bonus to those affected by the recent weather system.
Looking ahead, claiming victory at this stage would be naive in such a competitive digital landscape. Mosseri has openly acknowledged Musk and Twitter as the current leaders. Additionally, Musk has announced his intention to pursue a legal battle against Instagram, alleging plagiarism.
What is certain is that Meta’s bet on this product is risky, and it will be the users who are currently testing it who will decide its future, and above all, whether it has what it takes to become viable and relevant enough to dethrone the little blue bird.
(*) Martín Bernal is a Social Media Manager at Azerta.
