Instagram hits 2 million advertisers/month, doubling (again) in six months
read original story here
For the second time in the past year, Instagram’s advertiser base has doubled in six months.
Over the past month, more than 2 million businesses have bought ads on Instagram.
Instagram is steadily closing the gap on its parent company, which claimed 5 million advertisers as of April 2017.
Of course, Instagram’s adoption among advertisers is helped by its parent company’s popularity. Two years ago, Facebook enabled brands to buy ads on Instagram through the same self-serve ad-buying tools they used to buy ads on Facebook. As a result, many Facebook advertisers have also become Instagram advertisers with the click of a button.
Last year, Instagram rolled out its version of Facebook’s Pages, offering businesses tools to enable them to manage their accounts and pay to promote their organic posts as ads from within its app. In March, Instagram said that 8 million companies had converted their accounts to business profiles.
The increasing popularity of video on Instagram has also increased its popularity among video-hungry brand advertisers, despite early pessimism. According to Instagram, as of June 2017, people were spending more than 80% more time watching videos on Instagram than they were a year ago, and the number of videos posted daily had grown fourfold in that time.