Double Tap for Profit: Instagram Opens Advertising Floodgates
After months of testing and speculation, this week photo-centric and mobile-only social network Instagram will open up its advertising platform to brands wishing to partake.
And it appears there will be many. A recently released study from eMarketer projects that Instagram will bring in just shy of $600 million in advertising revenue by the end of the year.
That number will only increase, rising to a potential of $1.48 billion (yes, billion) in 2016, and then $2.81 billion in 2017. By that time, Instagram will account for a whopping 14 percent of Facebook's mobile ad revenue.
Additionally, eMarketer's report forecasts that by 2017, Instagram's mobile display ad revenues will have surpassed those of both Twitter and Google. While Twitter has been floundering in the advertising department, recent developments have put them on the right track. However, Instagram is poised in the right place at the right time to surpass both Twitter and mobile ad titan Google.
Are you on board? Whether through the paid advertising API recently opened or having an organic Instagram following and presence, you can get a piece of the rapidly growing pie that is marketing via Instagram.