2 Months in, Instagram Stories Already Has 100 Million Daily Active Users
Last time Facebook tried to directly ape Snapchat, it was with their ill-fated Poke app, which lasted all of about 2 years, and they've been at loggerheads with the company ever since. Snapchat has an enviable grip on the millennial demographic, you see, something Facebook also had during the early years, but has now migrated elsewhere.
Facebook itself will never regain that audience, but 55% of all 18-29 year-olds in the US are on Instagram. It stands to reason that much of that demographic uses both apps, so they were probably already familiar with the Story format, and more than happy to adopt it on Instagram. Instagram have also had more time to build up their 500 million-strong monthly active user base, compared to Snapchat's 150 million.
So, does this spell doom for Snapchat? Well, past evidence would suggest that they're going to be fine. Their advertising potential is only just becoming apparent, and the parent company, Snap Inc, are in the process of hammering out an IPO which will value the company at at least $25bn. At least. Look at this goddamn island, if Snap was worth the minimum amount, it would be enough to buy that island 24 times over. And it could be worth even more.
Facebook actually put a bid in for Snapchat in 2013 for $3 billion. As you might have already guessed, it was publicly rejected. Facebook don't like it when other companies move in on their old territory, and they like it even less when the people in question prove to be far more in-tune with youth culture than they could ever hope to be. Still, Instagram will be happy with this, and however well Snapchat does, Instagram still has its own sizable niche.
Callum is a film school graduate who is now making a name for himself as a journalist and content writer. His vices include flat whites and 90s hip-hop. Follow him @Songbird_Callum
2 Months in, Instagram Stories Already Has 100 Million Daily Active Users Reviewed by Callum Davies on Monday, October 10, 2016 Rating: