Meta’s Threads real-time messaging app is facing challenges in attracting new users, according to a forecast by Insider Intelligence. The app, which was once compared to Twitter, now ranks near the bottom of the most popular social media platforms in terms of U.S. users. Insider Intelligence predicts that Threads will have 23.7 million U.S. users in 2023, significantly lower than Facebook, Instagram, and TikTok. Its closest rival, X, is expected to have 56.1 million U.S. users in 2023.
Threads initially gained popularity due to its easy sign-up process for existing Instagram users and as an alternative to X. However, it can no longer rely on X defectors for growth. The declining usage of Threads has been documented by various third-party estimates from mobile analytics firms.
There is a possibility of Meta monetizing Threads by charging X users a monthly subscription fee, as suggested by Tesla CEO Elon Musk. This move may further alienate X users and increase advertiser interest in Threads. However, Meta CEO Mark Zuckerberg has stated that the company has no immediate plans to monetize Threads.
In an effort to make Threads more compelling, Meta has introduced new features such as a desktop version and a search tool. Advertisers and creators have expressed the need for additional features such as analytics tools in order to invest more time and resources into the platform.
To become a major player in the social media market, Threads needs to establish its own unique identity beyond being an extension of Instagram or an alternative to X. TikTok’s success can be attributed to its ability to offer users a unique social experience.
As Threads continues to struggle, the question remains whether it can turn its fortunes around and regain its popularity among social media users.