Facebook owned image sharing network Instagram is onboarding over 30 advertisers on Instagram Stories to boost advertising revenues, reports Economic Times. The company had introduced Stories in August last year, allowing users and businesses post pictures and videos for 24 hours, after which they would self-destruct.
Advertisers will now be able to display ads in full screen intermittently when users are swiping through photos and videos on Stories. Some of the advertisers currently onboard include General Motors, Airbnb and Nike among others. Overall, Instagram claims to have over 500,000 global advertisers on its platform.
It is interesting to note that Instagram Stories is a near exact copy of Snapchat Stories where users can modify videos and photos through text and drawing tools. It allows users to see who has viewed the Stories and also block individual users from being able to access your story on that screen. If an account is private, only accounts users approve can see it. Snapchat also lets advertisers advertise on Snapchat Stories, although recent reports suggest that advertising in this category is falling.
Note that Instagram recently crossed 600 million active users (MAUs), 6 months after it hit the 500 MAUs mark in June. The company has been adding or upgrading multiple features in its app to retain users. In order to enter the ecommerce segment, Instagram added clickable “shopping tags” in November, which display information about products and price within posts on the feed. In September, the app launched a “keyword moderation tool” and in March, the company updated its live photo feed to display best posts or content based on the likelihoods, interests, relationship with the user.