The last couple of years have been particularly turbulent periods for social media giants Meta and Twitter. Meta, the parent company of Facebook and Instagram, has experienced falling profits for the first time ever, Twitter has gone through a high-profile hostile takeover, while both companies have had their fair share of crises.
However, it may be argued that Meta and Twitter do not really compete on the same level as each other. Both Facebook and Instagram have more daily active users than Twitter, although the latter is never too far behind them in terms of relevancy in the media and politics. Even so, there have been some rumblings in the last few months of the potential for a Meta-created text-based social media app that could rival Twitter.
Previously, these rumours swirled while Twitter struggled to hold on to its advertising base amid Elon Musk’s $44bn takeover. Now though, a Meta spokesperson has suggested that these rumours may have some substance to them. According to the Meta spokesperson:
“We’re exploring a standalone decentralized social network for sharing text updates. We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests.”
It’s currently unknown whether, when or exactly how this app will surface. However, given Twitter’s current instability, Meta may not want to wait around to try and take advantage of the potential gap in the market.
A Twitter-like social media app from Meta is bound to make waves in the world of social media. If and when this becomes a reality, extending your business’s online presence to the new app may be a good idea, especially if your target audience will be making the transition over their themselves. To learn more about what constitutes an effective social media presence, speak to our team at Engage Web today.
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