Meta Platforms (META) has opened its Threads app to advertisers around the world.
In a company blog post, Meta said that all “eligible advertisers globally” can now run advertisements on Threads, which is the company’s answer to X/Twitter.
This is an expansion from Meta’s initial testing with only a few U.S. and Japanese-based advertisers.
The move is expected to provide Meta Platforms with a lucrative new revenue stream at a time when individuals and businesses are moving away from X/Twitter.
Opening Threads to all advertisers also comes as Meta is embroiled in an antitrust case with the U.S. government that has accused the social media company of monopolistic behaviour.
“These ads will be delivered in select markets at launch and will roll out to additional markets as we continue to test and learn,” reads Meta Platforms’ blog.
This is Meta’s first foray into generating revenue for its Twitter-like service that launched in 2023. The company also runs social media platforms Facebook and Instagram.
Executives at Meta have sought to downplay the potential revenue that could be generated from advertisements on Threads, which claims to have 320 million monthly active users.
In January, Meta executives said during an earnings call that the company’s introduction of ads on Threads “will be gradual.”
However, Wall Street analysts see big bucks ahead from Threads ads, saying that the social media platform could be a major source of revenue for the company.
Some analysts note that X, formerly known as Twitter, generated advertising revenue of more than $5 billion U.S. at its peak in 2021.
Meta Platforms’ stock has declined 11% this year to currently trade at $520.27 U.S. per share.