Research firm eMarketer predicts the company will generate $1.5 (£1.02) billion in ad revenue this year. The mark of 500 million montly users also speaks to how much more successful Instagram has been than rival social media app Twitter TWTR, which has struggled in recent months and has been stuck around 300 million monthly users for some time.
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Instagram launched on the iPhone in October 2010 and slowly grew to 5 million users by June 2011. Instagram is racing towards a user base of 1 billion, but only time will tell how fast they can reach that figure, and how big an effect it has on Facebook’s revenues, earnings, and most importantly for investors, its stock price. Instagram is owned by Facebook, and it stands to benefit from that arrangement: Facebook tries to connect its users together on Instagram when they become Facebook friends to get them engaged on both platforms.
Driven by the selfie culture, Instagram is rapidly becoming Facebook’s flagship content service, so it will be interesting to see how the two work together as Facebook absorbs more and more content onto its main platform.
The company also mentioned that there are more than 100 million monthly actives in the US and more than 95 million images and videos are shared every day.
In a blog post, Instagram said, “Whether you promote adventure, craft or a sense of belonging, every photo and video you share helps bring people closer to interests, broaden perspectives and inspire a sense of wonder”. Unequivocal proof comes from Instagram, which just announced it reached the 500 million membership milestone.
Instagram said Tuesday it has doubled in size over the past two years.
About 80 percent of Instagram’s users come from outside of the US.
Nonetheless, it seems Instagram has plenty of content to support 300 million daily users, just as Facebook has enough content to support its 1.1 billion daily users. Thanks for making Instagram such a handsome place.
Anyway, the new limit is rolling out today to “certain users” (aka: Vine celebrities) but if the new format proves popular, expect your Vine app to update to the new limit sooner than later.
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You can also create 60-second videos.
