Apart from being pioneers and once giants in their respective fields, there is one more similarity between Yahoo and Orkut. They both suffered premature deterioration solely due to their inability to put a foot on the accelerator of innovation. But it looks like Facebook-owned Instagram has seriously gone through their case studies. In the era where everything changes within a blink of an eye, Instagram has certainly done well by staying at the edge of flexibility and innovation almost at all the time. Instagram’s recent announcement of its Explore tab with a new event video channel can be considered as a march towards that vision of innovation. It will be a personalized channel for each user and will feature videos from concerts, sports games, and other live events around the world. The rationale behind this channel is that as long as a real life event is popular and has enough content to create a channel, it can become an event inside Discover.
That’s why like other explore channels, users will be the key provider of the content who will take a video and tag it with the event location. What it means is the football game of your favorite team or a performance by your favorite brand can feature in the channel if you take enough efforts to catch every glimpse of those events. Of course, when you reach the level of Instagram, every move of yours is a calculated and planned one. This ushering into the event tab is no exception. For a long time, Instagram is trying to tell the world that it’s more than just photos; it’s about videos too. They have been heavily investing in that cause and this year’s addition of a
Of course, when you reach the level of Instagram, every move of yours is a calculated and planned one. This ushering into the event tab is no exception. For a long time, Instagram is trying to tell the world that it’s more than just photos; it’s about videos too. They have been heavily investing in that cause and this year’s addition of a video channel, which enabled users to find clips about 23 different categories, such as dogs, comedy and travel, was also a part of that endeavor. And it’s not hard enough to understand why Instagram is doing it. Videos are easily the most consumed and engagement generating content among all other content types that float in digital space. Between April 2015 and November 2015, the amount of average daily video views on Facebook doubled from 4 billion video views per day to 8 billion. Similarly, Syndacast predicts 74% of all internet traffic in 2017 will be video. It’s as clear as a mirror that videos are going to emerge as a channel with highest ROI generator mainly due to its incredible attention grabbing power. Naturally, Instagram is eying for monetization through this videolization. Another noteworthy point is these customized event channels will give Instagram a much needed competitive edge against competitor platforms like
Another noteworthy point is these customized event channels will give Instagram a much needed competitive edge against competitor platforms like Snapchat’s discover channels. Though they also feature curated user-generated videos from major events around the world, they cannot achieve the desired level of personalization due to the fact that Snapchat’s discover channels are still curated by hand. To grasp it completely, let’s assume that Snapchat has a special channel for one of the biggest festivals of heavy metal music. Now, everyone on the Snapchat platform isn’t going to be a fan of heavy metal music. But personalization for this Instagram’s channel will be done by analyzing what types of live events users are interested in, and what type of accounts the user follows. So, this video channel of Instagram will be in a much better position than others when it comes to provide the right content at the right time and more importantly to the right user.
Indeed, it will be interesting to see how this video channel of Instagram, which will be launched in the U.S for now and later in other countries soon, will perform. Social media platforms are constantly trying to find new and robust means of monetization. The failure of Twitter’s buy button isn’t a very old memory. If this event thing strikes gold, it may pave a new direction for social media’s monetization efforts.