After 7 years, Instagram has become one of the most common social networks standing together with Twitter, Facebook or Tumblr as well as one of the most popular mobile apps on every app store. Focusing on uploading, editing and sharing images/videos, Instagram had reached 1 billion active users per month in June 2018, after passing 800 million in September 2017. Additionally, the estimated net mobile advertising revenues on Instagram are projected to reach 6.84 billion U.S. dollars, up from 1.86 billion U.S. dollars in 2016.
Instagram is currently the No.1 social media platform for influencer marketing. With the power to bypass Adblockers, 99.3% of influencers said Instagram was the best place to connect with community and brands. On average, influencers were compensated $10 per 1,000 followers, and each account has an average of 32,000 followers. Thus, an average payment for a sponsored post will reach $320, leading to a monthly spend of nearly $90 million for the entire industry.