Threads, a text-based public chat app developed by the team behind Instagram, was launched on July 5 by Facebook, Instagram, and WhatsApp parent Meta. IOS and Android users in over 100 countries could use the app this week.
Threads, Meta's latest microblogging network, has surpassed 100 million users in less than two days, making a substantial impact on Twitter. According to Cloudflare CEO Matthew Prince, Twitter's traffic has been declining since early 2023. Twitter's traffic has been continuously declining since January, according to domain name system (DNS) rankings data from Cloudflare, a network technology company, and reached a new low in July. The Threads app's latest release appears to have a more significant influence on Twitter traffic.
According to Cloudflare, Twitter is currently ranked 37th in domain rankings, down from 32nd in January 2023. This significant dip shows that Twitter is losing traffic, and the introduction of the Threads app is likely to exacerbate this trend. Elon Musk purchased Twitter for a stunning $44 billion in 2022. Since then, he has imposed several uncomfortable modifications to the network, prompting users to seek other platforms such as Mastodon and Bluesky, as well as the recently debuted Threads by Instagram.
With daily post access limited and essential features such as SMS-based two-factor verification now behind a paywall, the new Twitter organization is actively encouraging users to subscribe to the Blue delivery to maximize their Twitter experience, which has received much backlash from its 450+ million user base.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.