Facebook has been pushing its video products hard over the last few months, and this chart has a good explanation of why.
In a note on Snapchat today, SunTrust analyst Robert Peck compared the two platforms’ video ambitions.
Snapchat quadrupled its daily video views from 2 billion to 8 billion in just 9 months, from May 2015 to February 2016.
That means it’s growing a lot faster than Facebook.
As seen below, in April 2015, Facebook reported 4 billion views per day. Snapchat at the time only had half of that.
Now, in less than a year, Snapchat has already caught up to Facebook.
This positions Facebook not in a fight for content, but for attention, argues Peck.
Many of the content creators, like brands or celebrities, will probably start producing content for both. After all, Facebook still has way more daily users than Snapchat — Facebook reported 1.04 billion daily average users (DAUs) in its Q1 2016 earnings report, and Peck estimates Snapchat is around 150 million, up from 100 million last May.
Instead, the fight will be to become the top destination for people to consume video, and Snapchat is clearly gaining ground quickly.