Unlocking the Potential of Social Networking Startup Bluesky: How the U.K. User Surge is Shaping the Future of the Market
In recent weeks, Bluesky, a social networking startup, has been experiencing a surge of new users from the U.K. This sudden increase in signups and activity can be attributed to controversial statements made by Elon Musk regarding the U.K. riots. Despite this growth, Bluesky's biggest rival, Instagram Threads, has not seen a visible exodus of users yet.
Bluesky has reported a 60% jump in activity from U.K.-based accounts and has seen a significant increase in signups from the U.K., surpassing all other countries. However, a new analysis from Similarweb suggests that the impact of U.K.-based users joining Bluesky is still relatively small compared to Meta's Threads.
While Bluesky saw a peak of 67,800 U.K.-based daily active users on August 11, this number is not unprecedented. In January of this year, Bluesky had over 100,000 daily active users from the U.K. Similarly, Bluesky's U.K.-based monthly active users remained unchanged from June to July, while Threads saw an 8.6% increase in monthly active users in the U.K.
Despite X's fluctuations in daily and weekly usage and reports of users fleeing the platform, X still maintains a larger user base than Threads and Bluesky, with 6 million daily active users from the U.K. on August 11. X's lead is even wider in the U.S. compared to the U.K.
Overall, X remains ahead of Threads and Bluesky globally, with 91.0 million daily active users worldwide compared to 34.9 million for Threads and 594,700 for Bluesky. However, Bluesky and Threads may have a better chance at winning over the U.K. demographic if the trend of users switching platforms continues to grow.
In conclusion, while Bluesky's recent surge in U.K. users is noteworthy, it is important to consider the broader context of the market and the dominance of platforms like X. Investors and users alike should keep a close eye on how these shifts in user behavior could impact the future of social networking and financial markets.