Maybe. In the last six months, Instagram has doubled the number of advertisers on the app. This means the competition between Instagram, Snapchat, and Pinterest has become even stronger than it was.
Now, on Instagram, we can find an enormous diversity of advertisers from almost every branch of the market. There is already more than half a million of them coming from more than 200 countries, with the top five being the US, Brazil, the UK, Australia and Canada. The majority of advertisers are small businesses, from categories such as consumer-packed goods (SPG), e-commerce, retail, technology, and entertainment.
Posting ads on Instagram is becoming more and more popular. Soon, it may be as common as it is now on Facebook, since user actions, such as clicking on links or making a purchase from the website, are being counted in the billions. It is also a great way for small businesses to understand their client better, as Instagram gives a real insight into who your real audience is and where they come from. Thanks to this, young companies can make their strategy more suitable for the bulk of their clients.
The platform has now 500 million monthly active users, and twice as many daily active users than their biggest rival, Snapchat, which has approximately 150 million of them at the moment. With video consumption still on the rise and a great amount of users, Instagram is now likely to outrun similar apps and become as common an advertising tool as Facebook.