Our just released Intelligence Report: Instagram, created in partnership with Olapic, reveals Instagram’s worth could be underestimated despite its place among the social media elite. The fastest growing platform reached 150 million monthly users in three years, half the time it took Twitter. Instagram registers 15x the engagement of parent company Facebook and is eighth the size.
Instagram is often likened to other visual social media platform Pinterest, but the two hardly compare. Launched six months before Instagram, Pinterest has a fraction of the reach. It is a third of Instagram in size, and only 23% of Pinterest users engage with the platform daily versus 58% of Instagram users. Instagram has launched ads and Direct Messaging, used by Nanette Lepore, Gap, and Michael Kors, while Pinterest has yet to deliver a clear monetizing strategy.
Emerging competitor Snapchat has seven times more daily uploaded photos than Instagram, but the latter’s slightly older and higher-earning users make it a more valuable tool for brands.
Prestige brands have embraced Instagram. 93% are present on the platform compared to 63% in July, and retail and Fashion brands dominate the top 10 largest communities on Instagram. However, only 14% feature user-generated Instagram content on their site. For more facts on Instagram and its potential, download an excerpt of the L2 report and watch the animated video.