Instagram now boasts of 2 million active monthly advertisers on its platform doubling its advertises base within six months. This is after having reached 1 million advertisers early this year in March. The social media platform has seen 180 million users engage with some form of business on the site within the last month be it visiting websites, getting directions, calling, emailing or messaging businesses. Within the same time frame, 50 per cent of the 15m businesses on the app produced an Instagram story. Moreover Business that have opted to go live have seen one and half times more likes than businesses that have not.
The photo sharing app has seen the greatest business adoption in the US, the UK, Brazil, Indonesia and Russia, while the top verticals are eCommerce, CPG, retail, entertainment & media, and gaming.
“Our community, including businesses, is growing, and we’re excited to see the continued engagement with brands on the platform,” said Jim Squires, head of Instagram Business. “80 per cent of people choose to follow a business they care about on Instagram, further proving that people are looking actively engage with brands in a meaningful way.”
A big share of advertisement growth can be attributed to consumers spending more time online producing and engaging with content in particular video content. Users under 25 spend more than 32 minutes a day on Instagram, on average, while those over 25 spend more than 24 minutes. In addition to this time spent watching video has grown by more than 80 per cent year-on-year, and the number of videos produced each day is up by more than four times compared to the same time last year.
“Our community is spending more time on the platform than ever before, and we know video is a huge part of that,” said Squires. “For businesses, motion is becoming the new filter for advertisers as they embrace Stories to connect with and inspire their customers through an immersive video experience, with 60 per cent of Instagram videos watched with sound-on. We’re excited to see how advertisers continue to use video in creative ways to reach their community.”