Instagram recently announced that more than 2 million businesses that bought advertising on their platform in the last month. This comes just six months after their announcement that they had 1 million monthly advertisers, and only a year since they hit 500,000. To put it simply, their advertiser growth rate is quite impressive and just keeps on going.
To give some perspective, Facebook claims 5 million monthly advertisers as of April of this year. Of course, Instagram is owned by Facebook, making this company one of the most dominant places for ads in the world.
Much of the recent growth has come from Instagram’s video ad options, which are still fairly new. Instagram reported that from June 2016 to June 2017, users are spending 80% more time watching video on their site. In the same timeframe, the number of videos that are posted to the platform has grown by four times.
How long this rapid rate of growth can continue is, of course, unknown but it is certainly something that marketers need to be aware of. Instagram offers many of the same advantages as Facebook, and has lots of perks you won’t find else ware.
