What Snapchat needs to worry about is not just Instagram Stories, but also features related to Facebook and Messenger.
According to Facebook's announcement on Wednesday, the daily active users of Facebook and Messenger Stories have exceeded the 300 million mark. Facebook defines users as people, not accounts, which means there is no duplication of statistics between the two applications. The company did not specify the number of daily active users for Facebook Stories and Messenger Stories.
In contrast, Snap disclosed in the second quarter earnings report released in August that Snapchat had 188 million active users.
Facebook also announced on Wednesday that it will launch Facebook Stories ads worldwide, similar in form to ads on Instagram Stories.
The social giant claims that it is not worried about its own apps competing for Stories users. According to a survey conducted by Facebook-trusted research firm Ipsos, 68% of people often use the “stories” function on at least three applications.
It is reported that the user's Facebook Story can be automatically posted to Messenger. Users can also choose to share their Instagram stories on Facebook.
Some analysts say that although Snapchat pioneered the Stories feature, Facebook was the biggest beneficiary.
Stories, a feature that plays a set of images or short videos in a slideshow, was launched by Snapchat in 2013, allowing users to beautify their photos or add simple effects, text descriptions, emoticons to their videos, once published, photos or videos. Deleted after 24 hours, with Snapchat's consistent "reading to burn" features.
In 2016, as Stories became more popular, Facebook also began to lay out multiple Stories products similar to Snapchat to compete with.
In May of this year, the company announced that Facebook Stories had 150 million daily active users, and began testing ads on the Stories platform in the US, Mexico, and Brazil from that month.
These ads are video ads that are between 5 and 15 seconds long and can be skipped by users. Facebook can automatically format the ads in “News Feeds, add borders, add text to the bottom, and Instagram Stories ads can be extended to the Facebook Stories platform.
The Facebook Stories feature was launched last year and competes with Snapchat Stories. Facebook's WhatsApp has similar features and more than 450 million daily active users.