Good enough and convenient. That’s proved a winning strategy for Instagram’s clone, according to a dozen analytics providers, social media celebrities, and talent managers who told TechCrunch they’ve seen a decline in Snapchat Stories usage since Instagram Stories launched on August 2nd.
Most reported declines in Snapchat Stories view counts ranging from 15 to 40 percent, and a reduction in how often they or those they monitor post to Snapchat Stories. Meanwhile, our sources report rapidly growing view counts on Instagram Stories, and engagement-to-follower rates one social influencer talent agent called “Insanely f*cking high”.
The success of Instagram Stories, the decline in Snapchat usage we’ve heard from a wide array of sources, and Facebook’s relentless drive to compete with the startup could spell trouble for Snapchat’s IPO on the NYSE market that’s expected in March. Snap Inc declined to comment for this story.