Facebook-owned photo and video sharing app, Instagram announced a milestone of 1 million monthly active advertisers with firms from US, Brazil, Indonesia, Russia, and UK making up most of the business profiles on the app. With over 150 million active users daily the app has vast opportunities for businesses to share information with people.
“One million advertisers is a big milestone, particularly because of the scale and diversity of the businesses on Instagram,” Instagram’s VP of business, James Quarles, said in a phone interview, Forbes reports.
According to a report by Forbes statistics on interactions between users and businesses on Instagram suggest the company’s tools are working so far. More than 80% of Instagram users follow a business on the app, and in the past month, more than 120 million users have used business profiles to visit a website, get directions or contact a firm, Instagram said.
Together, Instagram’s one million advertisers and 600 million monthly users make a big business. The social platform is expected to generate $3.64 billion in advertising revenue globally this year, according to forecasting firm eMarketer.
TechCrunch says the social medial platform, in its future businesses will add a feature to their profile that allows users to make appointments directly using Instagram, the app will also be adding insights data around multi-image posts and Instagram Stories.