If that title shocked you, you are not alone. As much as a good number of people detest the idea of the short-video format stories across Facebook apps, the truth is a larger number relish this feature – if the usage numbers are anything to go with.
During a call with investors, Facebook’s Mark Zuckerberg revealed that Facebook stories has over 500 million daily active users soaring past Snapchat’s 300 million general users. In comparison, Facebook stories had 300 million daily active users back in September 2018, a sign of vast unprecedented growth.
The stories feature, which was ripped off from Snapchat, has propelled Facebook and its myriad of apps to great success. For instance, WhatsApp Status last reported in April 2018 that the feature has 450 million daily users, Instagram reported in January 2019 that their stories had 500 million daily users – users being defined as anyone who either posts a story or views a story.
As a way to boost revenue and take advantage of these huge numbers, Facebook introduced ads on stories a while ago. Mark Zuckerberg revealed that their stories feature across all their apps has over 3 million advertisers, although he did not give details whether the business is lucrative, but your guess is as good as mine.
During the same investor call, Facebook executives informed investors that the company had set aside a whopping 3 billion dollars to pay for a precedented fine from the Federal Trade Commission over Facebook’s user privacy violations, a move that has painted Facebook in bad light as the company doesn’t really seem to care about the violations, since it can afford to just throw money at the problem and keep the engines running, but that’s a discussion for another day…