Revolutionizing social media, Instagram has become a worldwide phenomenon since its launch in 2010. For brands, influencers, friends and family, this visual-centric platform has shifted the lives of individuals and how they perceive the world. The photo and video posting app has steadily increased its engagement since its start, and in 2020, users are finally beginning to see just how much Instagram has grown and how powerful of a tool it can be.
The age breakdown: According to Sprout Social, 30% of global Instagram audiences were 18-to 24-year olds and 35% were 25-to 34-year olds. Around 72% of teens use Instagram making it one of the most popular social media sites, leading over Snapchat and Twitter. So much so that 73% of U.S. teens say Instagram is the best way for brands to reach them about new products or promotions. This is imperative to understand for how marketing via Instagram can change the game. Brand content, influencer marketing, and user-generated content flood feeds everyday; making Instagram a hub for consumers and brands to grow alongside one another. Among U.S. adults, the average age breakdown of users reads: 75% of 18-to 24-year olds, 57% of 25-to 29-year olds, 47% of 30-to 49-year olds, 23% 50-to 64-year olds, and 8% of adults 65+ engage with Instagram on a monthly basis.
The gender breakdown: According to Napoleon Cat, there were a total of 120,700,000 Instagram users in the U.S. in December 2019, which accounted for 36.4% of its entire population. The majority of them were women— 56.3%, and men accounted for 43.7%.
The average watch time: A study conducted by Hootesuite states that Instagram users will spend an average of 28-53 minutes per day on the platform in 2020. 63% of users will log on at least once per day, and the average for those who check the social media app multiple times per day is 42%. With extremely high engagement rates, users are returning to the app consistently to cultivate relationships and engage in conversations, with brands, influencers, friends, and family.
The usage statistics: Emarketer explains that Instagram will reach 112.5 million U.S. active users in 2020. That’s a large 5.4% increase from 2019 and the platform shows no signs of slowing down. The growth trajectory has been increasing steadily, with around 200 million users visiting at least one business profile, and 500 million Instagrammers watching Instagram Stories daily making it integral to the platform’s function and popularity. Instagram’s frequent updates and effective changes attract users every day to engage. A study conducted by Sprout Social suggests that 83% of Instagram users discover new products and brands through the app and 80% of these users then proceed to purchase the products they researched. The reach is undeniably successful; among marketing professionals, 89% indicated that Instagram is their preferred social media marketing channel.
The revenue statistics: The platform’s total revenue is expected to reach $14 billion dollars this year. With over 2 million monthly advertisers and 25 million+ business profiles, the success rate for both Instagram and businesses has been mutually beneficial. Instagram generated an estimated $20 billion in ad revenue in 2019. Research from the Pew Survey also broke down the income results of Instagram users: 35% of users made around or less than $30,000, 39% made $30,000-74,999, and 42% made around or over $75,000. As Hootesuite suggests, 75% of businesses will invest in marketing strategies through Instagram— their Stories, their newly added Shopping feature, and paid promoting/advertising. The only question left is how will you use this powerful tool? Because, chances are, your competition already is.