Adding new features to current products is generally a good way to maintain user interest and potentially draw in new users. But for Meta Platforms (NASDAQ:META), a new feature added to Instagram drew in plenty of attention. Investors were enthusiastic as well and gave Meta a little extra ground in Thursday afternoon’s trading.
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Instagram is now host to Broadcast Channels, a tool that will give Instagram-based creators several new ways to connect to their followers. Whether it’s the familiar text or images, or new features like polls, Instagram creators will have plenty of options to connect to their own followers and keep them engaged. Perhaps the first new user of Broadcast Channels will be Meta CEO Mark Zuckerberg himself, who plans to use Broadcast Channels as the central clearinghouse for Meta product news.
Zuckerberg has already made some channel recommendations, including the International Cricket Council and artist Daniel Arsham. Further, Instagram won’t be the only place to find Broadcast Channels, as both Messenger and Facebook will add the service over the next several months. Meta has been on something of a roll lately in terms of adding new features; just weeks ago, WhatsApp got the Channels feature as well. However, in WhatsApp, Channels was more intended for government use, almost like a broader-scale Amber Alert sort of system.
Meanwhile, Meta Platforms suffers no shortage of analyst support. Analyst consensus calls Meta Platforms stock a Strong Buy, backed up by 37 Buy ratings and five Holds. However, it only offers a trivial upside potential thanks to its average price target of $289.16.
