Facebook's Instagram video announcement last week went a long way in hurting its chief competitor Vine, a new study has shown.
According to data compiled by Marketing Land using Topsy, a tool designed to analyze social media shares, the number of links shared on Twitter to Vine videos fell off a cliff after Instagram's new video-recording feature was announced on June 20. And since then, things have remained quiet for Vine.
According to Marketing Land's findings, Vine's Twitter shares hit 2.5 million on June 19. After Instagram's video service launched, that fell to 1.5 million. As of the last measurement, Vine's shares were at 1 million.
Meanwhile, Instagram, which hovered around 1.5 million links shared on Twitter each week, saw its shares jump to 1.75 million after its video announcement. The service has remained steady at 1.5 million shares -- notably higher than Vine's shares.
So, what does this mean? It's tough to say. Instagram's video service has only been available for about a week, which means the findings are by no means enough to arrive at a conclusion on Vine's future chances of success. Still, Vine's shares dropping by nearly 40 percent in one day says something.