Instagram announced on Wednesday that it had reached an astounding 700 million monthly active users, the newest 100 million having joined Instagram in the past 4 months alone.
That’s right, after announcing 600 million monthly active users in December 2016, Instagram’s announcement means that the platform is growing faster than ever before. Where the jump from 400M to 500M took 9 months and from 500M to 600M took 6 months, this new jump up to 700M took only 4 months. So, not only is Instagram continuing to grow… It’s growing faster!
Why so fast?
There are a few reasons why Instagram could be experiencing a growth spurt. For one, the array of new features that have recently been introduced on the app. Instagram Stories, Live broadcasting, carousel posts to name only a few, are some of the newest additions to Instagram, are without a doubt one of the reasons why more and more people are joining the community.
Instagram Stories alone has over 200 million daily users, which is more than Snapchat which has closer to 160 million! Features like Stories provide users with such a great in-app experience that user-retention is easier than ever for Instagram today. Like Snapchat, Stories have an addictive nature which means users keep coming back.
It also seems that the changes said to be “the end” of Instagram have had no impact whatsoever on the platform’s popularity. The new design, the change to the feed algorithm early last year, the addition of Stories, and even the arrival of carousel posts, were widely criticized and expected to take away from the experience on the app.
How wrong the critics were!
Where to next?
It’s not hard to work out that if Instagram’s growth continues at this rate, it could hit the 1 billion user milestone by the end of 2017.
Fun fact: in February 2016, eMarketer predicted that by 2017, more than half (51.8% to be precise) of all social network users would use Instagram. Although this figure hasn’t officially been confirmed to date, we’d be willing to take the bet that it’s indeed now the case.
In fact, a recent study by Piper Jaffray has shown that Instagram is the favorite platform of 14 year olds – the consumers of the future – in front of the likes of Snapchat and Facebook.
Individuals and businesses alike are realizing the potential of being on a platform like Instagram.Check out what we think Instagram’s growth could mean for business here. Whatever the rate of growth, we simply can’t argue with the numbers. Instagram is fast becoming Facebook-level popular. Other networks: beware!
We’d love to know what you think of Instagram’s growth and what you think the future could hold! Comment below and don’t forget to share with your friends and colleagues!