Plans are underway to enable the cross-posting of Instagram Stories on WhatsApp. This is an attempt by Facebook to boost engagement among users with a view to driving interactions. During the last conference call the chief executive officer of Facebook, which owns WhatsApp and Instagram, indicated that the social media giant had a goal of pushing its video-based products such as WhatsApp Status and Instagram Stories.
Facebook added Instagram Stories in August 2016 and by last year in April the feature had garnered daily active users numbering 200 million. The success of the feature made Facebook to introduce the same to its main platform as well as on Messenger. By last year in November the number of Instagram Stories’ daily active users had risen to over 300 million.
Video ad budgets
The focus of Facebook on video has paid off and according to research firm Cowen the social media giant is expected to eat into Google’s share of advertising revenues in the next two years. According to analysts at Cowen, respondents of a survey they conducted indicated that ad budgets for Instagram and Facebook would increase this year and the next while their budgets for ads on Google would fall slightly.
The survey conducted by Cowen also indicated that despite the fact that YouTube is the digital video platform of choice for advertisers, Facebook Video is inching its way to the top position. Around 41% of ad buyers indicated in the survey that Facebook Video was the best platform to unveil an ad campaign while 25% picked television. Only 10% selected YouTube as the best platform to unveil an ad campaign.
Digital ad growth
Currently Facebook and Google dominate digital advertising with research firm eMarketer indicating that the two took up around 63% of the revenues in 2017. Per eMarketer Google will generate more than $40 billion in advertising revenues from the U.S. market. Facebook on the other hand will generate over $21 billion in ad revenues in the United States. In the next five years online advertising is expected to grow at a CAGR of 13%.
This comes in the wake of Facebook’s CEO, Mark Zuckerberg, indicating that his personal challenge for 2018 would be to fix the company in the wake of abuse and misuse of the social media platform.
“We won’t prevent all mistakes or abuse, but we currently make too many errors enforcing our policies and preventing misuse of our tools. If we’re successful this year then we’ll end 2018 on a much better trajectory,” wrote Zuckerberg in a post.