There are now two million monthly advertisers on Instagram, with growth having soared over the course of the year as businesses increasingly seek to utilise the reach of the Facebook-owned social media platform.
Instagram advised that it had reached the milestone via a blog post, with the platform having grown from one million advertisers in March.
Instagram said at the time video use on the platform had “exploded” following the introduction of Instagram Stories in August 2016, allowing “businesses to share everyday moments”.
In marking the two million milestone, the social media platform pointed to a rise in the use of mobile video.
“Time spent watching video on Instagram is up more than 80% year-over-year, while the number of videos produced per day has increased by 4x from last year,” Instagram said.
“With the emergence of innovative mobile video formats like Instagram Stories and Live, businesses are finding more opportunities to connect with their audiences, whether on-the-go or in the moment.”
Meanwhile, CNBC reports Instagram claims to have added another 100 million monthly users since April, bringing its user base to 800 million monthly active users and 500 million daily active users.
Never miss a story: sign up to SmartCompany’s free daily newsletter and find our best stories on Twitter, Facebook, LinkedIn and Instagram.
Martin Kovacs is a journalist with experience covering the IT, consumer electronics, retail, finance and energy sectors.
