The New York Times featured our Intelligence Report: Instagram, made in partnership with Olapic, on its technology blog Bits. Journalist Vindu Goel said while Facebook has not disclosed much about Instagram’s earnings potential, the mobile photo-sharing platform is likely to grow at an even faster pace than it already has.
The piece quoted L2 research saying the majority of Instagram users are young, female, and wealthy, and 58% use the social network everyday. Other facts from L2 research in the piece:
– Victoria’s Secret has the biggest fan base of any brand L2 studied with 3.9 million followers.
– Chanel has no official presence on the site, but five million photos have been posted on Instagram with the hashtag #chanel
– L2 predicts Instagram will generate $250 million to $400 million in revenue this year.
Read full story here.