Since launching last August, Instagram Stories has proved that if you can't beat 'em, join 'em.

While Stories strongly borrows from Snapchat's winning format, now the feature is beginning to eat into Snapchat's user base.

Snap it up

According to Tech Crunch, sources spanning analytics providers, talents agents, and even social media celebrities are reporting a decline in Snapchat Stories since the launch of Instagram Stories.

Most responders put the decline in Snapchat Story views anywhere between 15% – 40%.

Conversely, influencers are seeing an average 28% higher open rate for Instagram Stories.

What's your Story?

Instagram Stories now has 150 million daily users. That's as many as Snapchat's entire user base.

While hard Snapchat stats are difficult to come by, a strong showing by Stories will help push up the price of the platform's upcoming IPO.

Do you use Stories on Instagram or Snapchat? Let us know in the comments.