It's no secret that since Instagram Live Stories launched in August, Snapchat's growth has stalled. In fact, many Snapchat influencers started to report less engagement on their Snapchat the second Instagram Stories went live.

Until today Instagram Live videos always disappeared. Once the live broadcast finished, the video was deleted forever. Meaning that anyone who didn't tune in live would not get a chance to see the content.

However, unlike Facebook Live and Periscope where the video can be saved to the platform, Instagram Live videos will not be saved to the site itself.

Instead, users can choose to save the video to their camera roll on their phone and share it on other platforms like Facebook or YouTube. This will give viewers who missed the live broadcast the opportunity to watch it at a later date.

Saving a video couldn't be any easier, once the stream comes to an end a save button appears in the upper-right corner.

Even though the video won't get saved to Instagram itself, the ability to save live videos should be enough to give the feature a boost in adoption rates. Knowing that their video would be gone forever once it concluded made some users hesitant to use the live feature. They wanted to be able to hang onto the content in case it produced a special moment that they could re-use for their branding.

Now, they have the peace of mind knowing that the video will still be there when the broadcast is done.

The one downside is that broadcasters can only save the video and not the response from their audience. The likes and conversation that resulted from the video will still be gone once the live broadcast is over. Since many broadcasters respond to live comments and likes during the video, not being able to retain them might create some remarks that seem odd or out of place if when the user repurposes the video on other sites.

Will this new feature from Instagram take a big bite out of Snapchat's user base? The one thing for sure is that video content remains in very high demand. The chess match for market share is just starting to get interesting.