It would seem that the key difference is in the first example Instagram has to be involved in the nightclub venture. Which is all fine and dandy for an Instagram themed nightclub or nightclub event. Now however, and this is the kicker, Instagram can let as many nightclubs as they want use the photos without Instagram having to be involved or even disclose their involvement with anyone.

TLDR - Before: Instagram had to have clear collaboration.(which would limit how many people they could sale your photos to.) After: Instagram does not have to show clear collaboration.