The same analytics experts responsible for reporting on Instagram’s success now predict Instagram dominance on Instagram dominance will continue to dominate.
In April 2018, Instagram announced that more than 1 billion people use the app daily. This statistic has surged over the past two years as Facebook has developed Facebook Watch, Facebook’s video-hosting site. The number of Instagram users almost doubled, from 600 million in April 2017 to nearly 1 billion in July 2018.
But what is Instagram’s real value? This June 2018 article by Wired magazine asserts that Instagram is the most efficient marketing platform on the planet.
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“According to data analytics firm SimilarWeb, Instagram is used by 31 percent of all smartphone users worldwide. Compare that to Snapchat, which is used by just 12 percent of all smartphone users worldwide. Even WhatsApp is just slightly more popular at 33 percent. This means that one in every three smartphone users uses Instagram daily.”
Wired goes on to describe how Instagram and Facebook share each other’s user information and how Facebook’s business model encourages users to share as much as possible on Instagram.
For Instagram to continue its dominance in the future, the site will need to avoid copycat apps, the same Wired article asserts.
“Mark Zuckerberg, Facebook’s founder, famously declared in 2016 that he wanted the “calculus” of the system to bring more people into the network. What calculus is doing is making it a marketplace. At least for the time being, only the most determinedly loyal users are sticking around.”
So who is watching Instagram stories on a consistent basis? An Anonymous and Free Digital Story Analysis project examined the top 50 most followed accounts in the UK. For the week of Jan. 28, the team found that this group averaged 3.3 million views a day on Instagram.