Snapchat's 'Stories' feature is fueling a massive growth in video generation and consumption, with over a third of Snapchat's daily users creating video through the feature, which in turn is leading to the platform boasting 10bn video views a day.
Snapchat shared the new statistic with investors as part of an effort to explain that the app is focused not just on consuming content, but also on creating and broadcasting it, as users, particularly in Snapchat's key teen demographic, are filming video for public viewing in never before seen numbers.
This growth in video creation is also visible on other platforms. Although Facebook doesn't distinguish between the creation of new videos using its app and sharing existing content, figures from February do show that video posts increased three-fold year-on-year between 2015 and 2016.
The rapid growth of video creating also explains investments that companies such as Twitter and Facebook have made in live-streaming features, whether its Twitter's acquisition of Periscope or Facebook's push towards a Live Video functionality.
However, while these companies continue towards more video generation (and therefore consumption), Snapchat retains one key advantage – the opening screen of the app is a camera, providing an instantaneous prompt for users to share what they are doing at that moment, either with their friends or through a Story where a wider audience can consume it, react to it and generate their own videos in reply.