REVIEWS & OPINIONS What to make of “Threads” The reports are stark and alarming for Elon Musk and the Twitter microblogging app since he spent something like 43 billion dollars to purchase it - after first taking up some massive loans to do that, he’s now having trouble paying the rent. CNN reported last month that revenues were down about 50 percent and many advertisers have left the platform since the Musk takeover. Some are leery he will take the guard rails off what can be can be posted to the app (hate speech, misinformation etc.) The tech whiz, also in charge of Tesla and SpaceX, is apparently trying to make the switch to more of a subscription model, where people would pay for those blue “verified” checkmarks, and away from an ad-based service. That has gone over like the proverbial lead balloon. Enter Threads, a Twitter-like new app from Mark Zuckerberg and the folks at Meta, a shot across the bow at Musk. Many businesses use Twitter as part of their social media marketing/awareness campaign, along with Instagram, Tik Tok, Facebook, maybe Pinterest and probably some others I’m not even aware of. Will Threads be around long enough to be something your business (or personal users for that matter) should take on? It did register 100 million users within the first five days and probably many more by the time you read this. It’s supposedly easy to sign on to from an Instagram account that many have in place already, and the plan is that if not now then soon it can be tied to all Meta platforms, including WhatsApp (I think I spelled that right). Mike Horning, an associate professor of multimedia journalism at Virginia Tech’s School of Communication, says, “Threads will have to meet … three challenges,” in order to remain viable and relative. It has to fill some new niche with certain types of users or demographics (Tik Tok, now used by even the New York Yankees to promote their team, filled a music sharing niche at its outset.) A new app like Threads has to build a critical mass of followers that makes it a compelling for people to go there. It would seem Threads is off to a good start. The third challenge is “buy-in on the part of advertisers,” Horning wrote recently. “All social media apps rely on advertising, and if Meta can articulate to advertisers how this app provides added value to them, then they will likely invest in the app. If that isn't clear to advertisers, then the app will be short lived.” That ad revenue – or lack of it at this point – is hurting Twitter. Musk has already laid off thousands of employees – too many in departments like compliance, some say. So, is Threads right for Twitter users as an alternative or another social media app must-have? Time may tell.
There’s something happening here By Gene Marrano Executive Summary: Meta aims for Twitter with new social media app. Does you business need to climb on board yet?
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