One year ago, Instagram officially opened up its ad business to all advertisers. Today, Instagram has announced that it now has more than 500,000 monthly active advertisers using its platform to market their products and services.
Given that Instagram announces their milestones in terms of “more than,” it’s difficult to get an exact figure for that growth, but it suffices to say it has more than doubled in half a year.
Since the company rolled out its business-specific accounts in July 2016, more than 1.5 million businesses have converted their personal pages to business ones. A business-specific account, which is now available globally, allows them buy ads within the app and get a better look at how their organic posts are performing.
Instagram first began allowing ads in the U.S. back in 2013, and it has been refining the offering and market availability since then. The company says that the top countries for Instagram adoption among advertisers are the U.S., Brazil, U.K., Australia, and Canada.