Thread hopes to do what Twitter hasn't succeeded at.

Twitter has a new competitor as tech giant Meta launched Threads – an app for sharing short text content – which reached over 100 million users in its first five days of release.

Threads is a platform that allows users to post content up to 500 characters long. (Source: CNN)

Threads' outstanding achievements quickly attracted the attention of many businesses.

According to CNBC , advertisers are watching how Mark Zuckerberg's new Threads platform will develop over the next few months. They are always looking for a new social media channel to reach users, especially in the context of Twitter's increasing chaos.

CNN suggests that Meta also has an advantage over Twitter in terms of its existing user base, with over 2 billion active Instagram accounts, compared to Twitter's approximately 250 million.

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Zuckerberg emphasized: "It will take time, but I think there should be a public chat application with over a billion people on it. Twitter had the opportunity to do this but didn't succeed. Hopefully, we will."

Rachel Tipograph, CEO of media company MikMak, said their clients are also interested in advertising opportunities on Threads.

This group of businesses is constantly seeking new approaches, especially as brand safety concerns are increasingly prevalent on Twitter.

However, experts also note that it is still too early to know whether the launch of Threads will affect Twitter's advertising sales.

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On Twitter's side, on July 15th, billionaire Elon Musk – the owner of the social network – stated that the platform was experiencing a 50% drop in advertising revenue. Twitter is still operating in negative cash flow, due to a 50% decrease in advertising revenue coupled with a heavy debt burden.

Since taking over Twitter in a $44 billion deal last fall, Musk has tried to reassure advertisers. Many of Twitter's partners have expressed concerns about the mass layoffs of top executives and employees, along with the new content moderation policies.

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