Instagram has recently introduced a new feature called "Close Friends on Live," which allows users to broadcast live exclusively to a curated list of close friends. This update was launched globally on June 20, 2024, and permits streaming with up to three other participants visible only to those on the Close Friends list.
The feature aims to retain users, especially younger demographics, by catering to their preference for controlled audience experiences, differentiating Instagram from competitors like TikTok, and boosting user engagement. It also empowers content creators with more control over their audience.
Market analysts suggest that promoting private interactions could increase user loyalty and time spent on the platform, thus enhancing its value to advertisers and driving further revenue growth. This feature could enhance Instagram's user engagement rates and advertising revenue of $51 billion in 2022.
