Instagram has announced a new milestone of 700 million monthly active users. The popular imaging app, launched in 2010, went from 100 million users in 2013 to 600 million by December 2016. That means it only took Instagram four months to add another 100 million users.
Call it astonishing or the savvy workings of mother Facebook, but Instagram is here to stay and its growth seems to be speeding up.
Admittedly, there’ll probably come a point where growth will stall, but with new products such as Instagram Stories or Geostickers it may just draw in a few more users for now. Instagram Stories now reaches around 200 million users a day, whilst its Direct messaging tool has 375 million monthly users.
However, many of Instagram’s latest product additions have come at the expense of Snapchat as the company continues to rip off its competitor’s ideas.
But the achievement also means that Instagram is now twice the size of Twitter, heading straight for a billion users to join parent Facebook. Although Facebook hasn’t actually shared details about the app’s financial performance, eMarketer predicts that Instagram ad revenue comes to $3.92 billion.
The company plans to further push into developing markets. According to Statista, the US is Instagram’s largest market, followed by Russia and Brazil. According to the company, 80% of its users are outside of the US, and it has been busy developing features for markets where data isn’t as widely available as in the US.
Naturally, all this growth has attracted advertisers. Instagram recently announced that it reached one million active advertisers, up from 200,000 in 2016. It now offers simplified tools such as Boomerang and Hyperlapse to help advertisers more easily create ad content.
Though it’s not entirely certain how long the Instagram hype can last, arguably the app stands a good chance of reaching at least similar levels of users as its parent company. As Facebook prepares its earnings call for tomorrow, Instagram is likely to play an important role.
May 2, 2017