This is a third-party analysis, and not Facebook or Instagram’s internal data.
This article cites an eMarketer report which indicates a decline in Instagram’s user growth, having dropped to single digits for the first time, 6.7% in 2019, as compared to 10.1% in 2018. From 2020 to 2023, eMarketer estimates that the photo-sharing platform will continue seeing slower growth.
The reason for this drop is due to older users not migrating to the app. Additionally, Instagram is facing tougher competition from youth-oriented apps like Snapchat and TikTok.
The report expects Instagram’s ad revenue to increase by 46% to $13.86 billion in 2020, owing to more ad placement and ecommerce-related options. However, in the long-term, it could change brands’ approaches to social media marketing if their audience tends to skew older.
[2 minute read]