Because Facebook offers marketers immediate access to much larger audiences, Snapchat's unique features are their main weapon of survival. It announced that Snapchat was one of the top three most-downloaded applications in the United States for the first half of 2016, but dropped down to 11 spot when Instagram Stories was first introduced in August 2016. And with every feature that Facebook or its Instagram subsidiary copies from Snapchat, the pressure on Snap Inc.to reach its planned initial public offering only increases. The "new format" will be released to additional countries in the months ahead, the representative said.
Then there's the issue of Facebook and Instagram borrowing Snapchat gimmicks.More news: Tesla S Safety Reputation Crashes in Tests
SNAPCHAT, pioneer of the ephemeral world of disappearing pictures and videos, has seen a decline in the usage of its Stories feature since picture-sharing app Instagram launched its own copycat feature, Instagram Stories.
The shared content in Facebook Stories will not be visible on news feed or on user's timeline and viewers can reply to someone's story through a direct message. Users of Snapchat stories are also beginning to look at their own content less and less. The way people share today is different to five or even two years ago - it's much more visual, with more photos and videos than ever before.More news: Jurgen Klopp's Premier League title bid is over, says Jamie Carragher
According to a Wall Street Journal report, Instagram isn't commenting on how monetization of its Stories feature may evolve. The decision to roll out the feature is an attempt by the giant social media firm to dampen Snapchat's growth, but also to encourage people to share more media with their smartphone cameras.
Based on how much time users are spending on the app each day, Facebook's influence on our lives, at least in the United States, appears to have lessened slightly over the last few months, while Instagram's has stayed firm.More news: Syria: UN, de Mistura, Geneva talks postponed till February 20
Perhaps most importantly, Instagram Stories hasn't diminished advertisers' growing enthusiasm for Snapchat, according to multiple media buyers. Watch this space, Facebook fans!