Meta has officially launched its self-developed social media platform called 'Threads'. This platform focuses on text-based communication by limiting the character count to 500 characters. There is a lot of interest in whether Threads can surpass Twitter in competition. Threads was officially released on the Apple and Android app stores on the 6th at 8 a.m. Korean time. Mark Zuckerberg, the CEO of Meta, wrote in the first post, "Let's try it out. Welcome to Threads."
Threads emphasizes text-based communication through the character limit. In this release, Threads stated that they focused on conversations and created a positive and creative space for expressing users' ideas. Additionally, Threads has started offering Korean language services. It provides the convenience of automatic integration with existing Instagram accounts, eliminating the need to manually input personal information during the signup process. When accessing the Threads app, users can use their Instagram profile pictures and bios as they are, showcasing a high level of compatibility despite being a new app.
The response to the release of Threads has been quite enthusiastic. Popular American pop culture brands such as Billboard, Netflix, HBO, and Variety created official accounts within an hour of the launch, and famous celebrities have also started to show their presence. Meta actively encourages influencers to post on Threads twice or more per day as part of their efforts to establish the platform.
The reaction from investors regarding the release of Threads has been ecstatic. Meta's stock price increased by 2.9% due to the high expectations surrounding the launch. Financial analyst Danny Houston evaluated it as investors being excited about the prospect of Threads becoming a "Twitter killer."
Despite the existence of Twitter-like microblogging social media apps such as Mastodon, Post, True Social, and T2, Threads is garnering attention. However, those apps faced limitations in user acquisition due to being startups. In contrast, Threads, with its integration with Instagram and its massive user base of 2 billion, surpassing Twitter's 250 million users by tenfold, is being hailed as a true competitor to Twitter.
The release of Threads is Meta's prepared response to compete with Twitter since January. Chris Cox, Meta's Chief Product Officer, introduced Threads as "our response to Twitter" at an employee gathering last month.
On the other hand, Twitter has been facing difficulties since Elon Musk's acquisition of the company for $44 billion (approximately 57 trillion won) last year. According to internal documents obtained by The New York Times, Twitter's ad revenue dropped by 59% to $88 million (approximately 110 billion won) for five weeks starting from April 1st this year compared to the same period last year. This was due to various hate speech, misinformation, and explicit content proliferating after Musk repealed the censorship policy in the name of "freedom of expression," causing major advertisers to leave the platform. The usage rate of Twitter has also declined. According to a survey conducted by Pew Research Center in May, six out of ten adult users stopped using Twitter after Musk's acquisition. Additionally, recent policy changes that restrict the number of posts that can be viewed per day on Twitter have resulted in increased user dissatisfaction. Paid users can only view up to 10,000 posts per day, while free users are limited to 1,000 posts.
In contrast, Threads' release has brought significant success to Meta. The positive investor response led to a 2.9% increase in Meta's stock price on the 5th due to the high expectations surrounding Threads. Threads, although similar to Twitter in format, has secured a large potential user base through integration with Instagram. With Instagram's current user base of 2 billion, Threads has the potential to surpass Twitter. In this situation, Musk can only view the release of Threads as a challenge. Twitter is facing difficulties with major advertisers leavingsince the increase in hate speech, misinformation, and explicit content after Musk's policy changes. As a result, Twitter's usage rate has declined. In May, a survey by Pew Research Center revealed that one out of six adult users stopped using Twitter after Musk's acquisition. The recent policy of limiting the number of posts users can view per day has further fueled user dissatisfaction. Paid users can only view 10,000 posts per day, while free users are limited to 1,000 posts.
In contrast, Threads' release has brought significant success to Meta. The positive investor response led to a 2.9% increase in Meta's stock price on the 5th due to the high expectations surrounding Threads. Threads, although similar to Twitter in format, has secured a large potential user base through integration with Instagram. With Instagram's current user base of 2 billion, Threads has the potential to surpass Twitter. In this situation, Musk can only view the release of Threads as a challenge. Twitter is facing difficulties with major advertisers leaving due to concerns about the decline in its image. Therefore, Threads from Meta is emerging as a strong competitor to Twitter.
However, personally, I believe that Nostr has the greatest potential. Why are major media platforms attempting to evolve into new forms? Personally, I think they are well aware of the new trends. There may even be employees from Twitter or Meta who are reading this.
Nostr is just getting started. It currently has around 500,000 users. Although this number is significantly lower compared to Twitter and Instagram, I believe it will continue to grow.