Threads, Instagram’s newly launched app for public conversations, has attracted a enourmous 60 million users within 48 hours of its release
This ultrasonic adoption rate puts it on track to become the fastest application ever to reach the milestone of 100 million users, surpassing the previous record set by ChatGPT, which took two months to achieve the same feat.
The immediate buzz surrounding Threads shows the immense size and influence of Meta, the parent company behind Instagram, Facebook, and WhatsApp, which collectively boast billions of users.
Although Meta CEO Zuckerberg has faced criticism for introducing a product that seems to imitate existing offerings, Threads is strategically positioned to capture market share and attract users away from Twitter, positioning itself as a frontrunner in the social media landscape.
But… for Threads to truly succeed, it must not only attract users but also engage and retain them over time while finding effective monetization strategies to expand its revenue base.
Meta’s shares have experienced an impressive resurgence in 2023, with a remarkable year-to-date increase of 134%. So the question remains: Could Threads become the next major source of revenue for this social media giant?