Market research firm L2 has released a new report that measures the impact and use of Instagram. The popular social networking service was purchased by Facebook in 2012 for $1 billion and has grown to be worth $35 billion today.
The social networking app is growing in popularity around the world, specifically with teenagers and adults in their 20s. Many brands have seized the opportunity to take to Instagram in order to reach millions of consumers in a very organic way. Facebook on the other hand, has kept up a strong wall against marketers.
Currently, the categories with the largest followings on Instagram include sportswear, fashion, automotives, drinks, consumer electronics, and travel.
One-third of the brands that have been found to post at least once a week are experiencing a growth in followers. CJ
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