Twitter Traffic Takes a Hit as Threads’ User Count Continues to Grow
Key Takeaways
- Meta’s new microblogging platform, Threads, surpassed 100 million sign-ups since its unveiling last week, while Twitter’s user traffic has seen a lull
- Matthew Prince, CEO of web hosting services giant Cloudflare, tweeted a chart on Sunday showing Twitter’s traffic ranking drop by a few places over the past week
- Many businesses that had brand safety concerns over advertising on Twitter are eagerly awaiting the possibility of launching ad campaigns on Threads
Meta’s text-based microblogging platform, Threads, has amassed over 100 million sign-ups since its debut just last Wednesday — hitting that 100 million user milestone even faster than ChatGPT, which took two months to reach that point.
Meanwhile, since Threads’ launch, Twitter’s user traffic has slowed, with web analytics company Similarweb posting on July 9th that Twitter’s traffic was down 5% since its previous week, and 11% year-over-year.
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What’s happening with Twitter’s popularity?
Since Elon Musk took the reins of Twitter last year, the microblogging platform has seen a reported increase in racist and hateful speech — leading many businesses to stop advertising on the platform.
Twitter’s user traffic has seen a pretty significant lull since Threads’ launch, too, dropping 11% year-over-year, and just over the last week losing 3 ranks among the most visited websites. It’s dropped from rank 37 to rank 40 — a continuation of a slow downtrend in user traffic after having started 2023 at rank 32.
Since Twitter currently operates as a private company, it’s hard to get an accurate read of its current valuation. In late May, however, financial services giant Fidelity appraised its value at around $15 billion: a 66% discount on Elon Musk’s purchase. To say the least, Twitter has an uphill battle ahead of it, if it has any intention of clawing back some of that value.
How has Meta’s stock price reacted to Threads’ launch?
Let’s be clear: after having a rough time through 2022, META has been in a remarkable uptrend since the start of this year, opening the year at $122.82. At the time of writing, it’s currently sitting at $304.88 — nearly a mind-boggling 2.5 times higher.
Threads’ launch last week simply added fuel to Meta’s immense strength, pushing it from its pre-Threads close around $286, to its current levels around $305.
There’s a clear excitement in the air around Meta and Threads. Its user count is growing at unprecedented rates, and marketing companies frantically devise their marketing strategies for the platform.
The bottom line
Threads has certainly caught the attention of numerous businesses who eagerly await the possibility to kick-off their advertising on Threads — but it’s going to need an active user base. So far, though, Meta’s platform has hit the ground running, and looks to be on course to threaten Twitter’s dominance in a social media niche which previously was unchallenged.
Despite Threads’ positive start, it’s hard to say for sure which tech company will win out. A great way to invest without sinking hours into keeping up is with Q.ai’s AI-powered Emerging Tech Kit. It scans data in real-time, predicting the best tech stocks among ETFs, big tech, and emerging companies, automatically rebalancing weekly to make sure your risk to reward ratio is always optimal.
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