At the beginning of August, the popular video-sharing platform Instagram rolled out a new feature that is almost identical to an app that already exists. Instagram Stories closely mimics Snapchat’s product model, although Instagram’s videos disappear after 24 hours instead of Snapchat’s customary set number of seconds. In its blog release, Instagram stated that the purpose of Stories was to let people create a montage of every part of their day, complete with stickers and ways to draw on pictures. That is, in a nutshell, Snapchat.
This release has come at a time in which Snapchat has been a growing force in the world of digital advertising. Brands have taken to Snapchat to give their customers an inside look at their company, and to get videos out to over 100 million users. Snapchat users have been able to connect with their favorite brands, who update them on company information, show them fun goings on within the business, and even utilize the platform to raise money. Perhaps Instagram felt Snapchat was becoming a threat, as there have been reports of the recent decline in Instagram usage, and decided to see how temporary videos would affect their platform of over 300 million users.
Instagram has stated that it implemented this new feature to make it possible for brands to be more accessible. Currently, businesses and other Instagram users can spend hours retouching photographs to get them just right for posting. Instagram stories gives them the opportunity to put up in-the-moment videos, meaning more content goes out regularly. Brands have already started utilizing Instagram Stories to spread word of new releases and events, and experts say the usage of Stories will only grow.
Of course, whether or not Instagram Stories will succeed over Snapchat has yet to be seen. Stories does not have as many features as Snapchat, which is not surprising considering the amount of time Snapchat has been around. Additionally, there is an entire generation that has grown up using Snapchat and may not be willing to switch to a completely different platform. This, according to Instagram, is their biggest barrier to success.
Instagram does have digital advertising feature that Snapchat lacks, however, and this may be how they win out in the digital advertising realm. The fact that Snapchat does not have analytics alone is enough to drive companies to use Instagram Stories. All in all, it will take time to determine which platform becomes preferred. I am interested to see where this story will lead.