Instagram Sees Impressive Ad Revenue Growth

Instagram has seen impressive growth in its advertising revenues this year. Since Facebook introduced advertising to the image-based social media app last year, it has brought in an impressive revenue which is due to hit 1.85 billion US dollars for 2016. In fact, it was announced in September that Instagram had doubled its number of advertisers in just six months, to total over half a million accounts. A survey, by RBC, has revealed the trust advertisers have in the platform, showing that only 2% already advertise on the app but plan to decrease spending, whilst 16% plan to increase it. Ad agencies were also asked which platforms they were most likely to use for campaigns. It was found that from Q1 2015 to Q1 2016, YouTube, Facebook, and Twitter only saw a change in popularity of one or two percent, whilst Instagram's popularity saw an increase of 30% in the same period.