The social media competition is in its all-time prime. Snapchat and Instagram entered the market around the same time over 6 years ago. Since then, we have seen the never-ending competition between the two. One would think that Snapchat stories would be dominating Instagram because they “started it”. However, this is simply not the case.
There has been a decrease in the use of Snap Stories as we continue to see Instagram stories rise. Speaking numbers, Instagram’s unique daily viewer per story has gone up 50 million in the last year alone. For this, we can say that Instagram has been pretty damaging to Snapchat. This might be the reason that Snap Inc. decided it was necessary for them to acquire Placed a few weeks ago.
We’re not sure what the future holds for Snapchat, but it is looking bleak. Their shares have dropped, their downloads have decreased, they aren’t making any money but they aren’t giving up just yet. They just signed a new deal with Time Warner for $100 million and they are milking one significant stat. That is that 60% of interactions on the app take place between close friends. Snap believes that this is what makes them unique compared to other social media applications, hint… Instagram and Facebook.
Instagram is on an upward slope with no signs of stopping. They took over and improved the stories feature and are working on providing the best live video, an area that Snapchat didn’t even attempt. They are now making it where live videos can be viewed for a 24-hour period- not just for the duration of the live video.
It might just be us, but these social media battles are fun to watch. Read more on the Snapchat and Instagram competition and stay tuned for more news on where social media is headed.
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