Threads, an online social media and social networking service launched by Meta, has continued to struggle to grow its user base amid rivalry with Elon Musk X.
Reports from Insider Intelligence revealed that Threads now ranks near the bottom of the most popular social media platforms, ahead of only Tumblr, as measured by the number of U.S users.
Insider Intelligence forecasted that it expects Threads to hit 23.7 million U.S. users in 2023, while it expects X its strong rival to have 56.1 million U.S. users in 2023. For the U.S. market, the analyst firm said Threads will continue to rank second to last among social networks through 2025.
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Principal analyst at Insider Intelligence Jasmine Enberg said Threads received an initial boost from Twitter’s missteps, but it can’t rely on X defectors to continue to grow.
He said Threads needs to establish an identity that is more than an extension of Instagram or an alternative to X in order to become a major player in the social media market.
Enberg added that if Musk doesn’t backtrack on his move to introduce a monthly subscription fee to X, the move will likely alienate X users and potentially increase advertiser interest in Threads.
The decline in the number of active users on Threads is coming after the platform during its launch on July 5, saw over 10 million users join the platform.
This saw Threads earn the title of the most downloaded non-game app on its launch day. The app appeared for many as a possible replacement for X, following Elon Musk’s incessant changes on the platform.
However, recent developments reveal a decline in user engagement on the Meta-owned social networking platform. On average, Threads users now spend merely 2.4 minutes daily on the app, marking an 80% decrease from its peak in early July.
Sensor Tower reports that people are opening the app less frequently and spending less time there, compared to when it was newly launched.
Several experts have pointed out that a lack of cultural relevance and core communities has contributed to the drop in engagement on Threads.
Speaking on the drop in active users on Threads app Meta CEO Mark Zuckerberg said he considered the drop-off normal and expected retention to grow as the company adds more features to the app.
In a bid to grow its user base and enhance retention, the company began to roll out in-demand features and key updates. It rolled out a desktop version and improved search features.
The Threads team also began to roll out new notification control options, providing users a more enhanced way to manage their app experience.
While Threads can become a significant player in the social media landscape and provide an alternative to X, its ability to replace X largely remains uncertain.