(CTN News) – Despite its blockbuster launch in July, Meta’s Threads real-time messaging app has been unable to attract new users.
According to Insider Intelligence’s first Threads forecast, published Tuesday, Twitter’s clone now ranks near the bottom of the most popular social media platforms, ahead of only Tumblr.
According to Insider Intelligence, Is expected to have 23.7 million U.S. users in 2023, far behind Facebook, Instagram, and TikTok, which have 177.9 million, 135.2 million, and 102.3 million users, respectively. Threads will have less than half of the U.S. user base of its closest competitor, X, in 2023, according to the forecast.
As for the U.S. market, Threads will continue to “rank second-to-last among social networks” through 2025, according to the analyst firm.
In response to a request for comment, Meta did not respond.
It is the latest in a growing line of third-party estimates from mobile analytics firms such as Sensor Tower and Similarweb that report declining usage of Threads.
Since launched, it has rapidly gained millions of users, partly as a result of its easy sign-up process for Instagram users. Furthermore, the messaging application benefited from being a mainstream alternative to X, which several analyst firms, including Insider Intelligence, have stated is losing users due to the ownership by Tesla Chief Executive Elon Musk.
According to Insider Intelligence principal analyst Jasmine Enberg, Threads received an initial boost from Twitter’s missteps, but it cannot rely on X defectors for continued growth.
In the event that Musk decides to charge all
According to Enberg, “Assuming Musk does not backtrack, the move will likely alienate more X users and potentially increase advertiser interest in Threads.”
Mark Zuckerberg, Meta’s CEO, has previously stated that the company does not intend to monetize until it is bigger and more established.
Several new features have been added by the social networking giant to make it more compelling, such as a desktop version and a search tool. Advertisers as well as creators have previously told CNBC that Threads requires certain features such as analytics tools to become a more robust platform that advertisers and creators will invest time and money in.
To become a major player in the social media market, Threads must establish an identity that is “more than an extension of Instagram or an alternative to X”.
“TikTok’s success was largely due to the unique social experience it offered users,” Enberg explained, describing the ByteDance-owned short-video app’s rapid rise.