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Business

Instagram's imitation innovation

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Opening sequence

Business

Instagram's imitation innovation

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COMING UP:Instagram's imitation innovation

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Transcript

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Instagram offering up a new feature to users this week, allowing them to post photos and videos that last for 24 hours before disappearing. The only issue, this new feature nearly identical to Rival Snapchat's app. It's not new but imitation becoming increasingly the strategy of choice for social media platforms competing for more and younger users.
00:00:23
Reuters Breaking News columnist Jennifer Saba explains.>> They are both borrowing from each other. Snapchat decided not too long ago to let people keep their memories and photos. And now Instagram is becoming more Snapchat like in its ability to have things disappear. Snapchat is a challenger. The fact there is so many young people on Snapchat poses a threat to Facebook.
00:00:48
People are spending more time on Snapchat, too, and advertisers right now are just completely enthralled with the idea of getting in front of millennials.>> Instagram's latest update taking the imitation game to new levels but certainly not an unprecedented move. Facebook recently pumping up its Facebook live streaming feature, a ripoff of Twitter's year old live streaming app Periscope.
00:01:10
And LinkedIn, a straggler in social media recently bought by Microsoft, soon to allow its users to post videos directly through the platform. Beforehand, users only able to link videos from external sites like YouTube and Vimeo, siphoning them away from their LinkedIn page. A unique user experience losing out in Silicon Valley as social media platforms feel the pressure to meet all user needs, knowing they can disappear just as quickly as their user's stories.
00:01:36