Instagram: Facebook U.S. advertising revenue share 2016-2021
Facebook's user engagement is waning and as the social network is heavily reliant on advertising revenues, it is extremely beneficial for the company to have another platform which they are able to monetize.
Facebook's acquisition of Instagram has turned into an online advertising goldmine for the social network. In 2019, Instagram accounted for approximately 31.8 percent of Facebook advertising revenues, up from 13.2 percent in 2016.