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Snapchat is being murdered by Facebook
June 4, 2018
The introduction of the stories feature in 2013 by Snapchat has helped in expanding it worldwide being a huge method of making revenue out of ads. Snapchat’s feature helped it grow enormously in the past few years, that is until Facebook decided to pitch in and take over the success of the stories feature.
In 2016, Facebook decided to create its own stories feature which has expanded later on to other social platforms owned by it such as Whatsapp and Instagram. The use of this feature throughout 3 major social media platforms has made the stories a huge force in the ever-shifting social media landscape the thing that Snapchat failed to do.
According to TechCrunch, Facebook now has about 150 million of daily stories users, more than that of Snapchat who has 191 million users but less than 150 million daily stories users.
In addition, Facebook has decided to monetize its stories platform which will encourage advertisers to increase their budget to be able to use this feature that is if Facebook was successful in keeping the users intact at all times like Snapchat users used to be.
Not to mention the huge number of users of the stories like status on the Facebook owned Whatsapp platform where the number reached 450 million users last year.
The CEO of Facebook Mark Zuckerberg has plans of getting the feature into being more popular than the news feed feature which is known to be money making machine for Facebook. However in order for his plan to work, the ads created must be good in a way they appeal to the users.
Although Mark has already started implementing his plan through roll mid-video ads which is doing good so far, but the type of ads must improve above and beyond the typical known ads in order to get the users into switching immediately to stories instead of newsfeed.
In the end, even if the plan fails miserably, Snapchat will still have a huge crisis to deal with where its revenues froze at $1.19 billion in ad revenue since 2017.
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