Just five months after its debut, Instagram Stories — and the 150 million people using it every day — are no longer free real estate.
Instagram will begin inserting video ads into the Snapchat-like Stories experience and add more analytics features for businesses, the company announced on Wednesday.
The news marks one of the fastest introductions of ads into a product for Facebook, which typically plays the long game in monetizing new features. Facebook bought Instagram in April 2012 for $ 1 billion, then took almost three years to introduce ads across the platform.
The introduction of Stories was met with some skepticism, particularly as it seemed a direct clone of Snapchat’s Stories feature. That hasn’t done much to temper consumer interest. Instagram announced on Wednesday that 150 million people use Stories every day. Read more…With 150 million daily active users, Instagram Stories is launching ads