Instagram Competitor X Plans to Launch New Wire Service Called XWire
According to Instagram head Adam Mosseri, Instagram Threads is moving away from news content, but its competitor X has different plans. Executives at the company (formerly known as Twitter) have expressed their desire to create a new wire service called XWire, which would compete with services like Cision’s PR Newswire.
During the all-hands internal meeting on Thursday, X owner Elon Musk and CEO Linda Yaccarino attended together for the first time since Yaccarino’s hiring in May. The executives discussed several initiatives planned for the company, including Musk’s goal of transforming X into an “everything app” that focuses on creators, video content, payments, and even hosting users’ money and securities on its platform.
In addition, X is targeting competitors like YouTube and LinkedIn in terms of video content and hiring. Recently, X introduced a jobs listing service advertised through the @XHiring account. This service allows companies to post available positions on X using special “job cards” that provide details about the role and description. While this poses a challenge to LinkedIn’s hiring business, the adoption of this feature remains limited on X for now. The executives did not share additional plans on how X will better compete with LinkedIn, but integrating with other areas where companies distribute news, such as press releases, may potentially be beneficial.
During the meeting, X also shared significant milestones, stating that it reaches half a billion posts per day and 100 billion impressions per day. These metrics were initially announced by Yaccarino during an interview at a Khanference 2023 event in October and later confirmed to GamingIdeology. Additionally, Yaccarino mentioned in a blog post that users spend 7.8 billion active minutes on X every day, with an average user spending 32 minutes on the platform. These numbers slightly differ from recent third-party estimates focused on U.S. daily active users, who were reported to spend an average of 20.6 minutes on the platform as of September.
