The number of U.S. users of Threads, competitor to X (previously Twitter) is expected to reach less than half of X users, according to Market research company Insider Intellignece on Tuesday.
According to a report released by Insider Intelligence, the number of users of Threads is expected to reach 2.37 million by the end of this year, far fewer than what was predicted for X at 56.1 million. The social network platform with the largest number of users was Facebook at 177.9 million, followed by Instagram and Tiktok at 135.2 million and 123 million, respectively.
Threads attracted more than 100 million users five days after its launch in July this year, but it lost around 80% of users one month into launch due to lack of features.
“Threads received an initial boost from Twitter’s missteps, but it can’t rely on X defectors to continue to grow,” Jasmine Enberg, Insider Intelligence’s principal analyst, says in a statement. “It needs to establish its own identity moving beyond an extention of Instagram or competitor to X.” Recently Threads added new features such as desk top versions or keyword search. Enberg also said that users and advertisers may return to Threads if X charges monthly subscriptions. “We are moving towards the direction of adopting a monthly subscription model collecting small fees against massive bot (automatic information search program) groups,” said Elon Musk.