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Instagram surpasses 2 billion monthly users

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Adam Mosseri is the CEO of Instagram. He testified at the hearing before US Senate on 12/12/2021.

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U.S. lawmakers are concerned by Instagram’s irresistible content. Adam Mosseri is the CEO of this social media company. dragged to CongressThe latest incident at photo-sharing app Photobucket was reported for the first week in a row.

Sources familiar with the situation say that Instagram has reached the milestone of 2 Billion monthly active users, despite controversy.

Mosseri appeared before the Senate Commerce subcommittee to discuss child protection online. It is an issue that has hampered Instagram’s reputation in recent months.

Instagram, despite all its negative publicity, is still critical of its parent company. Meta.

Since it reached the threshold, Instagram has not made public its users numbers. 1 billionIt has not highlighted its monthly active users in June 2018 and at a moment when regulators and legislators see Facebook having an outsized market share, it is avoiding praising its growth.

CNBC spoke to employees who requested anonymity because they were not authorized to discuss the subject. They said they heard about the number of 2 billion users through internal conversations. A person claimed that Instagram hit the number about one week earlier than Facebook. changed its nameMeta October

An official for the company refused to comment.

Instagram was founded in 2010. It was bought by Facebook for approximately $1 billion 2 years later. Mark Zuckerberg’sMove from the web to mobile took effort. It took the app eight years for 1 billion users to reach that point, and only three years for it to surpass this mark twice.

Edward Jones analyst David Heger stated that this is a significant compound annual rate of user growth.

Heger stated that the rapid expansion of TikTok to 2 billion users was crucial due to the fierce competition. TikTok has exploded in popularity because it makes it easy for people to share funny, short videos.

Heger explained, “It shows me that Instagram even with the TikTok Challenge recently, Instagram still clearly relevant to people.”

A survey revealed that a majority of respondents are satisfied with the results. publishedForrester reported that 63% of Americans aged 12-17 used TikTok every week, while 57% use Instagram. TikTok had been downloaded globally 596.1,000,000 times this year. AppleAnd GoogleSensorTower reports that devices have reached 570.7 millions installs on Instagram.

Daniel Newman (principal analyst, Futurum Research) stated that “TikTok did a remarkable job of winning over that youngest demographic in the last four or five years.” He focuses on digital tech and is principal analyst for Futurum Research. “It was able to short-video and video sharing. SnapDid to messaging and disruption that particular demographic.”

Zuckerberg responded the way he often does — by cloning the competition. Facebook was launched ReelsAug 2020: Video sharing feature It is available in its third-quarter earnings reportIn October, Reels was made a key part of Facebook’s and Instagram’s services. This is to appeal to people between 18 and 29 years old.

Blessedness and curse

Facebook’s efforts to attract young people to Instagram, and keep them there longer than they already are has put the company in direct conflict with regulators, legislators, and parents.

The Wall Street Journal launched its September issue. seriesStories based upon documents that Frances Haugen, whistleblower, leaked to the media. A story showing that Instagram had a negative effect on teenagers’ mental wellbeing was one of the highlights. The company did not do anything about it. 

Frances Haugen (ex-Facebook employee) speaks at a hearing held by the Committee on Energy and Commerce Subcommittee on Communications and Technology on Capitol Hill, December 1, 2021 in Washington, DC.

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The series was met with opposition from lawmakers who demanded that the company stop developing an Instagram product for under-13-year-olds. Although the company stated that it would suspend the project, it didn’t promise to stop it. 

Since Wednesday’s testimony by Senator Mosseri, Congressional committees held numerous hearings on the effects of social media on teens. Many senators have likened Facebook’s approach to getting teenagers addicted to its products with the “The Simpsons.” playbook used by Big Tobacco.

On Wednesday, Sen. Richard Blumenthal (D-Conn.) stated that “I think the time for self-policing is over.”

Blumenthal who is the chair of the Senate Commerce subcommittee for consumer protection said that “Some Big Tech companies” had said “Trust us.” Your testimony seems to confirm that Instagram has said the same thing. Self-policing is dependent on trust. Trust is lost.

Facebook must remain a strong app regardless of whether Blumenthal or others from Washington press for changes.

As of October 2018, the main Facebook app was home to 2.91 billion active monthly users. However, growth is slower than Instagram. Facebook’s user base has increased by only 30% in the same time that Instagram has been doubled. According to eMarketer revenue at Facebook is projected to rise 18% to $135.1 Billion next year, and Instagram’s growth will top 30% to $60.5 Billion.

Meta needs Instagram in order to continue growing and making large profits to fund its ambitious and expensive ambitions to take the company into the “metaverse”, a virtual world that enables users to experience augmented and virtual reality.

Heger stated that he still considers it a vital part of the business. In five years’ time, Instagram will see its revenue grow more than it does from core platforms.

WATCH: Instagram chief Adam Mosseri testifies on Capitol Hill

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