NEW YORK: Facebook has announced that it now has 300 million Stories users, a format inspired by Snapchat, and that it will now start serving ads with these visual messages. The announcement shows that Facebook is moving forward in this new format, which allows people to share videos or photos with emoticons and augmented reality options that allow them to put glasses or hats on their faces and disappear after 24 hours.
“As of today, Facebook Stories ads will be available to advertisers around the world,” states a statement from the world’s largest social network, announced at a media event in New York.
“It’s been proven that storytelling delivers interesting business results.” Facebook, which wanted to buy Snapchat to open the market to young users, started in 2016 with the Instagram Stories format and expanded it in 2017 to Facebook and Messenger users.
According to the company 400 million Instagram users use the Stories format in addition to 300 million on the Facebook platform, a large number uses both platforms.
Facebook’s approach seems to be working according to Snapchat analysts.
Earlier this month, market research firm eMarketer corrected its Snapchat revenue forecast by 36 percent and net advertising revenue from $ 1.03 billion in March to $ 662.1 million.
Although Snapchat is the most popular app for teens, the number of users worldwide dropped by two million in the second quarter, eMarketer said.
Snapchat reported 188 million active users in the second quarter. Facebook said users can add music to the stories over the next week through an agreement with major music labels.