Further information Launched in October 2010 as a free mobile app, Instagram is one of the most popular social networks worldwide. Instagram enables its users to take pictures and videos, and then share them either publicly or privately through the app, as well as through a variety of other social networking platforms. In September 2012, Facebook acquired the media-sharing service for 1 billion U.S. dollars. Due to the strong impact of its curated visual content, Instagram has become a go-to advertising platform for brands, with auto, fashion, and beauty brands ranking first among Instagram adoption. The most popular beauty brands on Instagram include MAC Cosmetics, Sephora, and Benefit. In 2016, 44 percent of marketers from an annual industry survey were using Instagram to market their business, with 57 percent of respondents indicating that their Instagram usage would increase in the near future.
Despite the website’s strong marketing and advertising potential, it still accounts for less than a percent of global mobile advertising revenues. According to experts, the photo sharing app is set to generate 3.2 billion U.S. dollars in global revenues in 2016 and reach 9.5 billion U.S. dollars in 2021.