Dive Brief:
- Facebook is testing a new feature called Facebook Stories on the mobile app version of the social media platform, according to Business Insider and confirmed by Facebook.
- Facebook previously rolled out Stories on Instagram, with the feature taking both the name and core functionality from one of Snapchat’s popular user features.
- Facebook Stories will mimic the Instagram version with users able to create stories filled with photos and videos with the story disappearing after 24 hours and not displayed in the news feed or the user’s timeline.
Dive Insight:
Borrowing from Snapchat, which has emerged as a Facebook challenger in the social media space, should come as a surprise to no one. Facebook began testing Stories on the main platform in Ireland last October, and it rolled out Stories on Instagram in August while adding some suggestion and algorithmic sorting that did slightly differentiate its offering from Snapchat’s more direct user experience.
Instagram Stories has become a success with 150 million daily users, a number right around Snapchat’s daily user base. The feature also gets users creating new content with their cameras, including video, and Facebook has expressed an interest in increasing the amount of user content for the platform.
Another benefit in adding Stories to the main platform is the monetization potential. Facebook has already tested advertising on Instagram Stories and the new feature will likely become a new revenue stream for Facebook.
Facebook's ongoing efforts to test different ways to rival Snapchat points to the perceived threat presented by the latter. The differences between the audience of of each could be mean there is room for all, with reaching a broader group of consumers while Snapchat excels at engaging younger consumers. However, Snapchat is quickly adding its own new offerings to attract advertisers as it prepares for an initial public stock offering that could fill its coffers and help it further innovate.