It’s Friday, and we’re back with another edition of the Weekly Buzz!
On our agenda today:
— Twitter rebrands as ‘X’ to mixed reviews
— Threads faces a significant drop in active users
— Bluesky introduces new features
And, we’re wrapping it all up with a little Friday Fun.
Let’s dive in!
Twitter rebrands as ‘X’ and unveils new logo to mixed reviews
Say goodbye to Twitter, and hello to ‘X.’
Announced earlier this week, the platform formerly known as Twitter has officially been rebranded as ‘X.’ Ahead of the change, Musk tweeted about it for hours – yes, seriously – before finally unveiling the new name.
The letter ‘X’ is seemingly significant for Musk – it’s been part of various company and product names he has been associated with, such as X.com (Paypal’s original name), SpaceX, and his child’s name, X Æ A-12.
The new logo features a minimalist art deco design, replacing the iconic Twitter bird logo. Some fans support the change, while long-time users remain skeptical.
This rebranding marks yet another significant shift in Twitter’s identity since Musk acquired the platform. According to Musk and Linda Yaccarino, the platform’s CEO, ‘X’ will become an all-encompassing super app, a hub of unlimited interaction and possibilities including social updates, plus payments, banking, and more.
The internet, obviously, had thoughts:
does this make me the alpha bird? pic.twitter.com/OHXmwFTFfT— Duolingo (@duolingo) July 24, 2023
Billionaires shouldn't exist because when one of them has a midlife crisis it suddenly becomes everyone's problem— Jackie Ferrentino | Looking for Work! (@jckieferrentino) July 24, 2023
when Elon Musk sees any useful or valuable aspect of Twitter: pic.twitter.com/xgLOBtzW5G— ITYSL memes 💦🥩 (@ITYSL_memes) July 23, 2023
Threads faces significant drop in users post launch
Was the hype around Threads short-lived? According to new reports from Similarweb, Meta’s Threads experienced a rapid decline in daily active users after launch, dropping from 49 million to 23.6 million within a week.
Recent data shows the app’s best day was just two days after launch, but its popularity steadily decreased afterward. The total daily minutes of use also fell significantly, from 21 minutes on July 7 to slightly over 6 minutes on July 14.
Despite a surge of 100 million sign-ups shortly after launch, some critics say Threads lacks essential features that Twitter users are accustomed to, such as emojis, hashtags, and a chronological feed, making it challenging for them to switch.
The good news for Threads? Similarweb says Twitter’s retention of new users is also down, having dropped from 19% in May 2022 to 16% in May 2023.
Bluesky, Threads rival, introduces algorithmic “Discover” feed for personalized content
The new feature includes trending content mixed with posts from accounts users follow and those near their social circle.
The move aims to increase user engagement, and is supported by research that shows algorithmic feeds actually outperform reverse chronological ones. But unlike other platforms that enforce algorithmic feeds, Bluesky allows users to choose and customize their feeds based on interests.
Sounds great, right? Well, there’s a catch — the app’s closed, invite-only status and concerns over moderation challenges have led to skepticism about its future success.
Yeehaw, we’ve been waiting for Friday all week!