Meta’s Twitter-like platform, Threads, has experienced a continuous drop in its user base. Even with the introduction of a browser version, the decline in the app’s active users hasn’t significantly improved. SimilarWeb data shows a minor increase in Threads app usage when the browser version was launched, but it seems that existing app users shifted to Threads.net. App usage decreased by approximately 13%, while the browser version saw a similar increase, attracting around 133,000 unique users post-launch.
Currently, Threads, finds itself positioned close to the bottom of the list of popular social media platforms in terms of U.S. user numbers, as revealed by Insider Intelligence’s inaugural Threads forecast published on Tuesday.
In the present, the daily active user figure remains at a mere 1.1 million, as indicated by a MarketWatch report. This marks a substantial decrease compared to July, when the app had approximately 3.4 million users. This comes after a steep decline during the summer, with numerous reports suggesting that Threads saw an approximately 80% reduction in its user base.
Insider Intelligence projects that in 2023, Threads is predicted to have around 23.7 million users in the United States. This figure significantly lags behind Facebook, Instagram, and TikTok, which are expected to have 177.9 million, 135.2 million, and 102.3 million U.S. users, respectively. In comparison to its closest competitor, X, which is forecasted to have 56.1 million U.S. users in 2023, Threads will have less than half of that user base.
When Threads was first introduced, it quickly attracted a large user base, partly due to its easy sign-up process for existing Instagram users. This messaging app gained popularity as a mainstream alternative to X, which has reportedly been losing users under the ownership of Elon Musk, as noted by several analyst firms, including Insider Intelligence.
Insider Intelligence’s principal analyst, Jasmine Enberg, remarked that while Threads initially benefited from Twitter’s missteps, it can’t solely rely on users migrating from X to sustain its growth. However, if Musk follows through on his plan to charge X users a monthly subscription fee, as mentioned during a recent livestreamed conversation with Israeli Prime Minister Benjamin Netanyahu, Meta could find a clearer path to monetizing Threads. Enberg added that this move might alienate more X users and potentially increase advertiser interest in Threads.
Nonetheless, Meta CEO Mark Zuckerberg has previously stated that the company has no immediate plans to monetize Threads until it achieves a larger and more established user base. Meta has been introducing various new features for Threads, including a desktop version and a search tool, in an effort to make it more appealing to users. Advertisers and content creators have expressed the need for additional features like analytics tools to make Threads a more robust platform worth investing in.
Enberg emphasized that Threads must carve out its own distinct identity, beyond just being an extension of Instagram or an alternative to X, in order to establish itself as a major player in the competitive social media market. She pointed to TikTok’s success, which was driven by offering users a unique and novel social experience, as an example of how Threads can potentially break through.
The key to success lies in innovation and delivering value. To capture users’ attention and keep them engaged, apps must introduce genuinely groundbreaking elements or features that are impossible to overlook. Interestingly, both X and Threads face a similar challenge; they lack fresh and captivating aspects, causing users to lose interest. Apps that fail to provide something valuable and innovative are likely to remain dormant on our devices.
(Source: John Brandon | Forbes | Jonathan Vanian | CNBC)
