Instagram has over 2 billion monthly users

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People using Instagram.

Lorenzo di Cola | Nur Photo via Getty Images

U.S. lawmakers are so concerned about Instagram’s addictive content that social media service CEO Adam Mosseri said Drawn into Congress For the first time last week, the latest incident of the year of turmoil in photo sharing apps.

However, despite recent controversies over Instagram, the app has reached a new milestone this fall with 2 billion monthly active users, according to sources familiar with the situation.

The topic of Moseri’s hearing at the Senate Trade Subcommittee was online child protection. This is a problem that has damaged the Instagram image in the last few months.

Instagram CEO Adam Moseri testified at a US Senate hearing in Washington, DC, December 8, 2021.

Brendan Smiarovsky | AFP | Getty Images

Despite all the negative publicity, Instagram is more important than ever to the fate of the now-called parent company Meta..

Instagram hasn’t published the number of users since it exceeded the number of users. Billion Monthly active users are marked in June 2018, avoiding promoting their growth when legislators and regulators already consider Facebook to dominate the market.

An employee who asked not to be named because he wasn’t authorized to talk about the matter told CNBC that he learned of 2 billion users in an internal conversation.One said Facebook reached the numbers on Instagram about a week before Facebook. Renamed Meta in October.

A spokeswoman for a company declined to comment.

Instagram was launched in 2010 and was acquired by Facebook two years later as the CEO’s centerpiece for about $ 1 billion. Mark Zuckerberg Efforts to move from the web to mobile. The app took eight years to reach one billion users and only three years to double that number.

“This is a fairly significant compound annual growth rate for our users,” said David Hager, an analyst at Edward Jones.

Hager said the speed of expansion to 2 billion users was especially due to the fierce competition that arose from TikTok, which surged in popularity by making it easy for people to create and share short, entertaining videos. I said it was important.

“Despite the recent TikTok challenge, Instagram tells me that it’s certainly relevant to people,” Heger said.

According to the survey results Release Forrester last month, 63% of Americans between the ages of 12 and 17 used TikTok weekly this year, compared to 57% on Instagram.In terms of downloads, TikTok has been installed 596.1 million times worldwide this year. Apple When Google According to SensorTower, Instagram has over 50.7 million installations.

“TikTok has won a very good victory in its youngest demographics in the last four to five years,” said Daniel Newman, chief analyst at Futurum Research, which focuses on digital technology. .. “What did it do for video sharing and short video sharing? snap I sent a message to that particular demographic and confused it. “

Zuckerberg responded by cloning his competitors the way he often does. Facebook reel Video sharing function for August 2020. Third quarter financial report In October, the company announced that it would make Lille a core part of its Facebook and Instagram services to appeal to users between the ages of 18 and 29.

Blessings and curses

But Facebook’s efforts to lure young users to Instagram and keep them there for long periods of time put the company head-on on the cross of regulators, legislators, and increasingly parents.

In September, The Wall Street Journal series A list of stories based on a series of documents leaked by whistleblower and former employee Frances Haugen. One of the most notable discoveries came from a story showing that the company knew that Instagram was harmful to the mental health of teens and did little about it.

Franceshausen, a former Facebook employee, spoke at a hearing of the Energy Commerce Subcommittee on Communications and Technology at Capitol Hill on December 1, 2021 in Washington, DC.

Brendan Smiarovsky | AFP | Getty Images

At the end of the series, lawmakers urged the company to stop developing Instagram products for children under the age of 13. The company said it would suspend the project, but did not promise to close it.

Since then, the Parliamentary Commission has held several hearings on the impact of social media on teenagers, including the testimony of Senate Moseri on Wednesday.Many senators have adopted Facebook’s strategy to get teens hooked on the product. Playbook used by Big Tobacco..

Senator Richard Blumenthal, Connecticut, said Wednesday, “I think the era of self-regulation and self-regulation is over.”

“Some big tech companies are saying,’Trust us,’” said Blumental, chair of the Senate Trade Subcommittee on Consumer Protection. “That’s what Instagram says in your testimony. But self-regulation depends on trust. Trust is gone.”

Whether pressure from Washington’s Blumenthal and others will force changes on Instagram is an urgent issue. Facebook needs to keep the app fixed.

As of October, the main Facebook app has 2.91 billion monthly active users, which is behind Instagram. When Instagram’s user base doubled, Facebook’s user base increased by only 30%. According to eMarketer, Facebook app revenue is projected to grow 18% to $ 135.1 billion next year, and Instagram’s growth is projected to grow 30% to $ 60.5 billion.

For Meta to fund its bold and costly ambitions and move the company into the so-called Metaverse, the world of virtual reality and augmented reality, Instagram needs to continue to grow and throw away huge profits.

“I still see it as a very important part of the company,” Heger said. “In the next five years, Instagram revenue is growing faster than revenue from the core platform.”

look: Instagram Chief Adam Mosseri testifies at Capitol Hill

Instagram has over 2 billion monthly users

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