Instagram, the widely popular photo and video sharing app has doubled its advertiser base in six months for the second time. Instagram had reported that it had one million advertisers in March.
“People come to Instagram every day to share their passions and connect with what matters, and they are spending more time than ever on the platform producing and exploring content, especially mobile video.” the company said in a press release.
The time spent on watching video on Instagram has increased by 80% year on year. The number of videos produced per day also increased by 4X from 2016.
The new video formats like Instagram stories and Instagram Live has helped businesses find more opportunities to connect with its audiences.
In the last month alone, over 120 million users visited a website, received directions, emailed, called or directly messaged to accounts to learn more about the businesses. Instagram has 8 million businesses with the majority of the business accounts from Britain, Indonesia, Russia, and the US.