Only six months after announcing that they had hit the 1 million advertiser mark, Instagram has announced that they have doubled that and hit 2 million monthly advertisers.
This is an incredible achievement and seriously closes the gap on Facebook’s (yes, their owner) 5 million monthly advertisers.
This is great news for Facebook who has been actively looking for ways to increase their ad limits. For those that don’t remember, Facebook warned shareholders last year that they were getting close to their overall ad limit (hitting the ceiling of how many ads they could possibly serve). Since then, Facebook has hit that limit and need to find new ways to expand the advertising empire before they end up stagnating.
A huge portion of its growth has been the ever-increasing popularity of video content. People are spending 80% more time watching video on Instagram than this time last year. This, of course, becomes very enticing for brands to use video ad units.
Let’s all raise our glasses to Instagram on an epic achievement, then sit back and realise that this means a lot more brands we are all competing with for Instagram user’s eyeballs…..sigh.