What Happened
Instagram today launched a live event-based video channel that calls to mind Snapchat’s Live Stories. Appearing in the Explore tab in the Instagram app, the new feature uses an algorithm to curate user-generated videos from concerts, sports games, and other types of live events as they happen. Each user will see videos from different events based on their interests, just like the rest of the content recommended in Explore. This new video channel is only available in the U.S. at the moment but Instagram says it will roll out to global markets soon.
Why Brands Should Care
As Instagram continues to “borrow” from Snapchat and build out its video products, it is not only aiming to better compete with Snapchat for user attention, but also making the necessary preparations for more video ads. As a new study indicates, brand marketers prefer social media sites over ad networks when it comes to digital video ads.
Although Instagram has not specified whether it will insert ads into the new video features, it seems like a matter of time given that it has been ramping up its ad efforts in recent months with its ad sales expected to jump to $1.5 billion this year. For brands looking to reach mobile consumers, this new feature marks an interesting development that brands need to be aware of.
Source: AdWeek