The buzz around Threads is growing louder after going live in Europe, launching in the EU in December 2023. The Meta-owned platform had a very public launch in the U.S. and 100+ other countries back in July, but was restricted in the EU.

With close to 100 million monthly users, does its availability in Europe now open the floodgates? And should economic development agencies attracting FDI or talent pay attention? We take a look below.

Wait, what is Threads?!

Threads is among the newest social media entrants (did we really need more?). It operates under the same Instagram handle and is reminiscent of Twitter in its functionality. Its close association with Instagram is what fueled its early growth, but that low barrier to entry also drew questions about how committed those users were when they didn’t stick around very long.

What’s the difference versus X? Threads combines Instagram's visual elements with X-like text interactions, offering cross-platform sharing and deeper integration with Instagram's features. Threads also emphasizes personalized content and user experience, setting it apart from X’s more generalized and text approach​.

Is it significantly different? No, not much more than each company’s up-and-down year in 2023. The major difference right now is reach. Threads’ 100 million monthly users are much less than X’s reported 500 million, although the latter stat has been questioned. We’ll all know more about the trajectory of each channel in another 6-12 months, which will be more telling.

Should EDOs get a threads account?

Any time a new social channel or marketing trend comes about, we get lots of questions about whether or not to jump into the fray. In most cases, the answer is “not right now, let’s watch it.”

Regardless of investment or talent attraction, you do not currently need to manage a Threads account. As a larger place brand or tourism organisation, there’s a strong use case, but in general, we don’t see this as a worthy pursuit right now. There’s already a trend of condensing channels around your core audience, which we’ll address in another article soon.

However, like other social media channels that might not be a priority, what’s the pain in at least opening an account while your handle is available? Just set up two-factor authentication to prevent account hacking and save the login details somewhere where it won’t be lost, as often happens.

Having an account doesn’t require using it, but getting that digital real estate now and holding it could pay dividends down the road should consumer engagement change. Worst case scenario – it sits dormant.

From there, it’s about keeping an eye on emerging platforms like Threads. It is still finding its footing and is lowest on the social media ladder right now. Best to focus on where your driving value right now, and watch for long term trends elsewhere.

For more information on place marketing, sign up for our newsletter and follow us on LinkedIn.