Threads App, Meta’s competitor to X (Twitter) became the fastest platform to reach 100 million users, in just five days. Marketers took notice and jumped on the opportunity. Then, Threads has seen a significant decline in users since its launch in October 2023. According to data from Sensor Tower, the app’s daily active user count (DAU) peaked at 49 million on July 7, 2023, but it has since fallen to just 10 million as of October 2023. Threads fall has been as rapid as its rise. Does that mean it’s a dead space for brands?
Threads Journey :
With Twitter (or X) having a tumultuous time, Facebook (or Meta) saw an easy chance to release a copycat app Threads.
Meta and Threads have broken several records with this unprecedented launch. Previously set by ChatGPT in 5 days, Threads became the fastest platform to reach 1 million active users in only 1 hour.
It also took Threads 7 hours to reach 10 million users. ChatGPT is the only other online service to challenge this number. And it took them 40 days.
On July 6 when Threads was launched, 41.79 million daily active users were reported. That number climbed to 49.3 million on July 7.
Threads gained 70 million users within 48 hours of its launch. This makes Threads the fastest-growing social network in history by a large margin.
Threads loses its initial hype :
On July 14 it was reported that Threads’ daily active users have dropped to 23.6 million. This is a sharp decline of 52% in one week.
Based on August data, Threads user activity has decreased even more. The platform currently has 10.3 million daily active users, down over 79% since the peak.
The time spent on the app has also dropped significantly. On July 7, users spent an average of 21 minutes daily on the app. Today, users only spend an average of 3 minutes daily on the app. Meanwhile, Twitter has 200 million daily active users who spend an average of 31 minutes per day on the app.
SimilarWeb reported that Threads usage was down 79%, and time spent on the app was down 89% just one-month post-launch.
This data does show that Threads initial surge has certainly died down. This doesn’t mean it’s dead or dying, though, as data shows consumers still seem to remain interested in the platform. What is true is that consumers may need more of a reason to stay on the app long-term.
Factors contributed to Threads decline :
Lack of unique features : Threads lacks many of the features that are popular on other social media apps, such as direct messaging and a proper explore page. Many users cited a lack of relevancy in their newsfeeds and the inability to view trending topics or search for content as primary reasons.
Privacy concerns : Threads automatically shares information such as location and battery life between close friends. This has raised concerns about user privacy.
Nothing For New Users : Threads is currently not available for everyone, only Instagram users can join threads. New Users can’t register directly on threads. Users can’t even change name or username on threads. So, there is nothing new or attractive for new users, everything is already taken by or blocked for Instagram users.
Competition : Threads faces stiff competition from other established messaging apps, such as X (formerly Twitter) and Instagram.
Non Availability in EU : Threads is not yet available in the EU. Once that gap is addressed, we could, potentially, see a resurgence in popularity.
Meta’s Efforts to revive Threads :
In an effort to address these issues, Meta has been working on a number of updates for Threads.
Threads have acknowledged the problem and is working to implement missing features, most recently adding desktop support and a follower feed.
It remains to be seen whether these updates will be enough to reverse Threads decline. However, Meta is committed to the app and is continuing to invest in its development.
Key Takeaways for Marketers :
Threads is new born baby, so predicting usage in a year, even six months, is hard. The drop in excitement is evident, but interest is still there, so businesses on the platform will likely have to work hard to capture and maintain interest before it’s too late.
Meta has significant reach, and, as a Meta product, it’s unlikely that Threads will fail. It might be given new features and capabilities that re-engage bored users and bring people back.
As Threads avid user base continues to crystalize, brands should explore alignment with their target audiences.
Marketers should use Threads challenger status to confirm or rebuke their established champion social platform.
Threads, right now, is a sandbox for brands to take risks, embrace an experimental mindset, and practice becoming agile.
Keep your eye on the app and how consumers interact with your content.
Conclusion :
Threads rapid growth can be attributed to the massive user base on Instagram and Facebook already.
After seeing Threads break the 100 million user record, the growth has slowed down, and the platform must shift to increasing user activity.