Are Brands Giving Up on Threads?
Engagement on Threads, which was once hailed as the Twitter Killer, has experienced a significant decline, according to recent data from Sensor Tower.
After a rapid initial surge in users, Threads has seen an 82% drop in active daily users, with just eight million users accessing the app by the end of July.
While some major brands and celebrities continue to post on Threads, the dwindling engagement on the platform is becoming increasingly apparent.
In a recent report, KTLA pointed out that several major sports teams and even entire leagues have abandoned Threads. The Los Angeles Rams haven’t posted on Threads in three weeks, and the National Football League (NFL), the nation’s most popular sports league, hasn’t posted anything in six weeks, despite having 1.9 million followers.
Among news publishers, the British Broadcasting Corporation (BBC) stopped posting to Threads 11 weeks ago, and CBS News hasn’t posted in five weeks. But engagement remains minimal as follower counts also remain proportionately lower.
BBC’s main account on X has 2.2 million followers while it only has 694,000 on Threads. The CBS News account has 8.9 million on X and just 268,000 on Threads.
When it comes to brands, Wendy’s, for example, only has 295,000 followers on Threads while it has 3.8 million on X. Starbucks has 10 million on X and just 1 million on Threads. Both brands still actively post on the platform.
Meta (Nasdaq: META), the parent company of Threads, has introduced updates to the platform, including a desktop publishing feature, in an effort to attract users frustrated by its limited features. Insider Intelligence predicts that Threads will grow its active US user base to 23.7 million by the end of 2024. While that’s still way behind X in user numbers, it’s still a feat for a platform that will be barely half a year old by the end of 2023.
Sensor Tower notes that “the declines, which had been significant in the beginning, gradually slowed down, suggesting that the platform might be finding a steadier path.”
Information for this story was found via KTLA, Sensor Tower, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
