Instagram has become a really popular platform for sharing photos among friends and followers over the past few years. It’s now one of the largest social media platforms around the world, with 1 billion active users a month. The milestone was announced by the company at its event in San Francisco, which also saw the launch of the new IGTV.
Ever since acquisition by Facebook back in 2012, Instagram had been growing at a steady pace. It, in fact, recorded an unprecedented growth over the past six months, as it was only in September that Instagram touched the 800 million mark in terms of active users. With over 1 billion monthly active users now, Instagram now joins the elite league of social media-cum-messaging apps; Facebook (2.2 billion), WhatsApp (1.5 billion) and Messenger (1.3 billion). Incidentally, all of them are part of the same parent company.
Instagram’s rapid growth clearly reveals that Facebook products aren’t really affected by the data privacy controversies the parent firm has been involved with of late. It’s a clear indication towards the fact that people are in love with Facebook products. That said, no other Facebook-owned products are growing at the rate of Instagram. Its meteoric rise simply dwarfs the flat growth rate of Facebook and Snapchat.
The increased monthly active user base will Facebook to draw more revenue from its sister concern. Analysts believe that Instagram alone contributes to up to 28.2% of Facebook’s mobile ad revenue. A popular market research firm eMarketer believes that Instagram would generate around $5.48 billion in US ad revenue in 2018, which is 70% rise over last year.
Instagram’s huge audience pool could act as a potential monetizing proposition for the company’s all-new long-form video hub called IGTV in future. Launched earlier today, the platform is expected to be flocked by content makers from across the world in an attempt to get early exposure and build their own fan base.