Threads vs. X: Who's Winning the Download Race? The Unexpected Shift in App Popularity
Portfolio Pulse from Anusuya Lahiri
Instagram's Threads app, owned by Meta Platforms Inc (NASDAQ:META), is seeing a surge in downloads, surpassing X (formerly Twitter) since November 23. Threads' daily downloads increased from 350,000 to 620,000, with a total of 41 million new downloads since September, compared to X's 27 million. The growth is attributed to Meta's advertising efforts, with significant international market contributions, especially from India. Despite Threads' growth, X maintains a larger user base with over 500 million monthly active users. X is currently dealing with an advertiser exodus and controversial remarks by its owner, Elon Musk. META's stock price is down by 1.17% at $316.31.
December 05, 2023 | 4:27 pm
News sentiment analysis
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NEUTRAL IMPACT
Meta Platforms Inc's Instagram Threads app is experiencing a significant increase in downloads, outperforming X in the app download race. The company's stock is currently trading lower by 1.17%.
While the download surge for Threads is positive news, indicating successful user acquisition and marketing, the impact on Meta's stock price is neutral to slightly negative in the short term, as reflected by the current 1.17% decrease. The growth in app downloads may be seen as a positive indicator for future revenue potential, but investor sentiment may be tempered by broader market conditions or concerns from other areas of the business.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100