Jan 31, 2017

Instagram Stories is taking a bite out of Snapchat

Adam Przezdziek / Flickr Creative Commons

A dozen analytics providers, social media celebrities, and talent managers TechCrunch spoke to have seen a decline in Snapchat Stories view counts ranging from 15% to 40% since Instagram Stories launched in August. Many also noted that users are posting much less frequently on Snapchat, opting for Instagram's Stories instead.

Our take: As TechCrunch points out, Snapchat removing the auto-advance feature, which automatically opened all of a user's friends' stories in a row, has definitely affected the number of Stories people are watching.

  • Instagram's success in ramping up with Stories is due in part to its massive scale. Stories already has 150 million daily users, out of Instagram's total of 600 million monthly active users.
  • Then there's what the Stories feature offers: non-permanence. Users and celebrities commonly say that posting on Instagram has them sweating over whether each photo is perfect. Many presumably turned to Snapchat to escape this, but now that they can have both through Instagram, why need Snapchat?

Why this matters: There is no doubt that analysts and bankers will—if they haven't already—ask Snapchat about this as it embarks on its IPO roadshow. The company is expected to publicly file to go public this week, and hit the public market in March.

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Biden formally secures Democratic presidential nomination

Joe Biden speaks at Delaware State University's student cente on June 5. Photo: Jim Watson/AFP via Getty Images

Former Vice President Joe Biden became the formal Democratic presidential nominee on Friday evening, per AP.

The big picture: Biden has been the presumptive frontrunner to take on President Trump since Sen. Bernie Sanders suspended his campaign in early April.

Updated 4 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 6,724.516 — Total deaths: 394,018 — Total recoveries — 2,996,832Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 1,894,753 — Total deaths: 109,042 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Public health: WHCA president says White House violated social-distancing guidelines to make reporters "a prop" — Jailing practices contribute to spread.
  4. Sports: How coronavirus could reshuffle the sports calendar.
  5. Jobs: Better-than-expected jobs report boosts stock market.
  6. Media: The Athletic lays off 8% of staff, implements company-wide pay cut.

Scoop: German foreign minister to travel to Israel with warning on annexation

Heiko Maas. Photo: Michael Kappeler/picture alliance via Getty Images

German Foreign Minister Heiko Maas is expected to travel to Israel next week to warn that there will be consequences if Israeli leaders move forward with plans to annex parts of the West Bank, Israeli officials and European diplomats tell me.

Why it matters: Israeli and European officials agree that if Israel goes ahead with unilateral annexation, the EU will respond with sanctions.