Despite the fact that this seems like a complete rip-off, which will probably end up with several legal repercussions costing Facebook a fortune, this is the price they are willing to pay in order to get rid of their main competitor!
It might be early to assume that Snapchat is dead, but it was definitely hit by a wooden stick straight to its heart! Let’s hope that Snapchat is still hiding new tricks up its sleeves in order to survive this. There’s no doubt that a huge sector of the online community adapted to Instagram Stories really fast, as if they just needed a reason to migrate away from Snapchat!
What does this mean to brands?
Many brands already had a shy presence on Snapchat, and they have been struggling for sometime now trying to figure out how to best be present on this platform considering that Snapchat’s main audience are primarily young people.
They were trying hard to keep up with the trends, create relevant content and most importantly rebuild their audience all over again given that they already spent a lot of time and money growing their Facebook and Instagram accounts.
Overall, Facebook’s reign is not going to be over anytime soon, they will continue to dominate the social media landscape in any means necessary, reminding us a bit of Microsoft’s golden era.
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Techie Dad – Innovation & Digital Director at M&C Saatchi / Mercury / Quantum – Instructor in Media Studies at AUB