Threads, Twitter, and other social media networks are scrambling to become the leading social media network, but they will need to cease all of their potential to succeed, according to a new study.
Key Details
- A recent Montclair University study from March shows that social media companies are on the cusp of a “highly profitable” evolution, thanks to growth potential and new technologies.
- The demands for this evolution are high, with artificial intelligence (AI) and ambition creating the opportunity for one social network to emerge as the “everything app,” but creating the likely possibility that none will fully cease the potential, Fortune notes.
- The study claims five metrics will determine the future: available content, AI integration for a competitive advantage, networking and social opportunities, increasing revenue streams, and creating the “everything app.”
Why It’s Important
Social media is in a war to the top, with the new launch of Meta Platform’s Threads being just the most recent shot across the bow. Facebook, TikTok, Instagram, and Twitter are all struggling to reach the top, to become the “everything app” that defines the future of social media.
“Musk has long stated his intention to turn Twitter into an everything app. It remains to be seen how the actions taken by the new leadership will impact Twitter and whether Twitter can truly become an everything app while improving profitability and content issues,” says the study.
We’ve already seen examples of how these technologies can propel niche social media networks into the mainstream. TikTok has already gained an equal market share to Facebook and Instagram thanks to its AI integration, Fortune notes.
Wednesday’s Threads launch suggests that Meta Platforms has found a weakness in the overall social media marketplace, hoping to weaken Twitter’s market share and give its existing Facebook and Instagram platforms a greater advantage going forward, as AI and metaverse features are enabled into its platforms.
A Thursday report from Semafor might confirm that, as Twitter’s lawyers have reportedly threatened to sue Meta Platforms for violating trade secrets in the creation of Threads.
The future of social media remains an open competition regardless of whether Threads and Twitter can get the edge on one another in the short term. The future of social media belongs to the next visionary with the ability to see what the future could look like.
“The future of the industry overall remains bright, yet which companies will continue or emerge as future winners depends on how well they can deal with these challenges,” the study continues.
Five keys to social-media success…
- available content
- AI integration for a competitive advantage
- networking and social opportunities
- increasing revenue streams
- creating the “everything app.”
