Threads and Twitter are supposedly locked in a deathmatch for domination of the short-form blogging social media landscape.
But at least one marketing executive believes there is enough room for both platforms to thrive.
DON'T MISS: Meta Stock Higher As 'Twitter Killer' App Threads Sees Huge Signup Surge
Threads from Meta Platforms (META) -) launched this week to much fanfare. On its two days of operations the platform has seen as many as 70 million signups.
“There should be a public conversations app with one billion-plus people on it,” Meta CEO Mark Zuckerberg said in his first series of posts on the platform. “Twitter has had the opportunity to do this but hasn’t nailed it. Hopefully we will.”
The last publicly available user data for Twitter cited 237.8 million users as of July 2022.
More Technology:
- The Company Behind ChatGPT Is Now Facing a Massive Lawsuit
- Prominent EV Company Says Latest Deal Will Be the First of Many
- Apple Makes a Big New Move With Elon Musk's Twitter
Threads is the new hot thing of the moment as former Twitter users exit in protest of the platform running under Elon Musk's stewardship.
But Mark Zagorski, CEO of marketing data firm Double Verify, says that advertisers who want to reach the most potential consumers will utilize both platforms.
"Advertisers are always looking for alternatives and new places to spend. Particularly to find reach in new ways and to reach new folks," Zagorski told CNBC.
"If you think about what's happening in social you've got paid and free. You've got freewheeling and moderated. Just like in TV we had cable and we had over the air and every advertiser and every consumer can find what's right for them."Get exclusive access to portfolio managers and their proven investing strategies with Real Money Pro. Get started now.
When it comes to ad dollars, there's room for both Twitter and $META competitor Threads, @doubleverify CEO @markzags tells @carlquintanilla, @LesliePicker and @michaelsantoli.
— Squawk on the Street (@SquawkStreet) July 7, 2023
"Consumers are going to make a choice at some point...to get everybody, you need to buy everything." pic.twitter.com/8GTe4fot5P
Get exclusive access to portfolio managers and their proven investing strategies with Real Money Pro. Get started now.
