Instagram Revenue and Growth Statistics (2024)

Key Instagram user stats. Includes data on revenue, valuation, number of employees, number of users, and more.
Last updated on:
December 29, 2023
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Instagram Key Statistics and Facts

  • Instagram was developed by Kevin Systrom and Mike Krieger in 2010.
  • Instagram was originally named Burbn.
  • Instagram was originally a mobile check-in app. Realizing that it was similar to Foursquare, Systrom and Krieger redeveloped Instagram’s focus to photo-sharing which quickly became popular among its users.
  • Burbn was renamed Instagram, a combination of “instant camera” and “telegram”.
  • On March 5, 2010, Instagram received its first funding of $500,000 on a seed funding round with Andreesen Horowitz and Baseline Ventures.
  • On October 6, 2010, Instagram was launched on iOS.
  • Three months after Instagram launched, it reached 1 million monthly active users.
  • In January 2011, Instagram introduced hashtags to help users discover photos of one another.
  • There are 2 billion monthly active users on Instagram.
  • In 2018, the heart emoji was used over 14 billion times on Instagram.
  • The most used face filter on Instagram Stories is the Heart Eyes filter.
  • 200 million+ businesses use Instagram to advertise, promote, or sell their products & services.

Sources: Yahoo Finance, New York Times, Instagram, Influencer Marketing Hub, Tech Crunch

Instagram Overview (About)

Source: Linkedin

How does Instagram make money?

Instagram makes money through advertisements. They also gain revenue through their IG live where users can purchase badges. The price of the badges ranges from $0.99 to $4.99.

Aside from that, Instagram launched shopping checkout in 2019 where merchants on their platform can integrate Shopify, BigCommerce, ChannelAdvisor, CommerceHub, and other tools. Instagram charges fix selling fee of 5% per shipment. Shipments of less than $8 have a flat rate of $0.40 cents.

Sources: Hootsuite, Feedonomics

What is Instagram’s revenue?

Instagram has an annual revenue of almost $50 billion in 2022.

Graph about Instagram’s revenue

However, based on the estimates of other sources we can say that:

Source: Business Insider, Bloomberg

Instagram Annual Ad Revenue (U.S.)

In 2022, Instagram earned an annual ad revenue of 33.25 billion in the U.S. alone.

Graph about Instagram Annual Ad Revenue

Also, it is projected that Instagram will earn $39.7 billion by the end of 2023.

Source: Statista

How much money does Instagram make from IG stories?

In 2022, Instagram made $15.95 billion from adverts between IG stories.

Graph about Instagram's revenue for IG stories

Source: Insider Intelligence

How much is Instagram worth?

Instagram was valued at $100 billion in 2018, a hundred times more than when Facebook bought them for.

Graph about Instagram valuation

Source: Facebook, Bloomberg, Tech Crunch

When did Facebook (Meta) acquire Instagram?

Facebook bought Instagram on April 09 2012, with $1 billion in cash and stocks. A lot of Wall Street people at the time were puzzled about why Facebook used that much money on a less than 2 years old platform with zero revenue and only 13 employees.

Mark Zuckerberg and other executives believed that Instagram became a threat to Facebook, large enough to siphon away any future profits from them. To solve this, they decided to buy the company instead of competing with it.

Infographic about when did Facebook bought Instagram

Source: Forbes, Reuters, Investopedia, Business Standard

Who owns Instagram?

Meta Platforms, Inc., formerly known as Facebook, fully owns Instagram.

Source: Know Techie

Instagram Funding History

There have been 3 funding rounds at Instagram, raising over $57 million.

Graph about Instagram Funding History

The highest amount of money raised for Instagram was in 2010, when Sequoia Capital and 4 other investors raised $50 million.

Source: Crunchbase

Who invested on Instagram?

Before Facebook (Meta) acquired Instagram in 2012, their last investors were Greylock, Benchmark, Thrive Capital, and Sequoia Capital.

The funding round was named Series B – Instagram which raised $50 million at a $500 million valuation for Instagram.

Source: Crunchbase, Tech Crunch

How many people work at Instagram?

Instagram has 19,800 employees according to their Linkedin Profile.

Graph about Instagram's number of employees

In 2012, there were only 13 people working for Instagram. Fast-forward 10 years, there are almost 20,000 employees at Instagram.

Compared to 2017, Instagram had 19,300 new employees.

Sources: Business Insider, Vox, Linkedin, Tech Crunch

How many people are using Instagram?

There are 2 billion monthly active Instagram users in 2021, twice the amount of IG users in 2019.

Graph about number of people using Instagram

With each new year, Instagram saw constant growth in terms of users.

The highest amount of new Instagram users was recorded between 2018 and 2021, with 1 billion new users on the app.

Sources: Statista, Ignite Social Media, CNBC 1, CNBC 2, Forbes, Vox, Instagram

Instagram Daily Active Users

There are more than 500 million people who use Instagram daily. This number has not been updated by Instagram since 2018.

Graph about Instagram Daily Active Users

It is speculated that there are more than 500 million people who open the Instagram app on a daily basis, though the number is still undisclosed.

Sources: Vox, Instagram 1, Instagram 2

Instagram Users Gender Distribution

The gender distribution at Instagram is of 47.8% female users, and 52.2% male users.

Graph about Instagram Users Gender Distribution

It’s safe to say that Instagram has a very balanced male-female ratio for their users, with an almost perfect 50/50 split.

Source: Statista

Instagram Users’ Age Distribution

There are 634 million Instagram users that are aged 25 to 34. Young Instagram users compose 8.9% of the total Instagram user population.

Graph about Instagram Users’ Age Distribution

Not too far away from the 25-34 age group is the 18-24 age bracket of Instagram users, as they cover 30.1% of the total IG covers.

The third most popular Instagram user age group is the 35-44 group, with almost 16% of the total users. That is just half of the most popular user group (25-34).

Source: Statista

Instagram Users Gender Distribution per Age Range

The most popular and fairly-split Instagram age group by gender is the 25-34 group, with 17.10% male users and 14.60% female users.

Graph about Instagram Users Gender Distribution per Age Range

In the 18-24 Instagram user age group, there are 16.80% male users and 13.40% female users.

Source: Statista

How many photos are there on Instagram?

There are more than 5 billion photos on Instagram since it launched in 2010.

In addition to that:

  • 1.3 billion photos are shared on Instagram Daily.
  • 100 million posts a day on Instagram.
  • 1 billion stories and chats per day on Instagram.
Infographic about number of photos on Instagram

Source: Photutorial

How many people post Instagram Stories each day?

There were 500 million users who posted their Instagram stories each day according to Instagram last 2019. There are no recent numbers for this but it is probably a lot more now compared to 3 years ago.

It should also be noted that there are about 1.6 billion Instagram stories posted each day in 2022.

Source: Instagram 1, Instagram 2

What is the average engagement rate on Instagram?

The average engagement rate on Instagram is 5.86%.

Source: Mention

How many Instagram influencers are there?

In 2022, there are 50 million influencers on Instagram. This was up by about 10 times from 500,000 in 2019.

Graph about number of Instagram influencers

Source: Insider Intelligence, Forbes

Instagram Influencer Categories

Hootsuite categorized influencers based on the number of followers. Instagram influencers with more than 1 million followers are considered mega-influencers.

Graph about Instagram Influencer Categories

Below you can see the criteria list for the categories of Instagram influencers:

Source: Hootsuite

How much money do Instagram influencers make?

There are a lot of factors that brands consider when paying Instagram influencers. These include engagement rate, followers, and the trends Influencers associate themselves with.

Source: Entrepreneur, Shopify

How do Instagram influencers make money?

Instagram influencers earn money by advertising brands, products, and businesses. There are a lot of small parts and big parts moving behind this but let’s just have an overview of the most common ways influencers earn money on Instagram.

It is estimated that mega-influencers on Instagram make over $10,000 per sponsored posts.

Source: Promoty

Instagram Influencer Engagement Rate

Instagram influencers with more than 100,000 have an engagement rate of 1.4%.

The engagement rate refers to how much Instagram influencers interact with their followers through likes and comments.

Graph about Instagram Influencer Engagement Rate

Source: Influencer Marketing Hub, Sprout Social

Who are the top-earning influencers on Instagram?

Cristiano Ronaldo is the top-earning influencer on Instagram with a price of around $2.40 million per sponsored post. Coming in second is Kylie Jenner with a $1.84 million price for a sponsored post.

Infographic about the top earning influencer on Instagram

Source: Instagram

What was the first Instagram post?

The first Instagram post was a photo of South Beach Harbor at Pier 38 by Mike Krieger. It was posted at 5:26 p.m. on July 16, 2010.  On the same night, Kevin Systrom posted the second post with his dog and girlfriend’s foot together which was taken at 9:24 p.m.

Sources: Instagram 1, Instagram 2

What is the most liked post on Instagram?

The most liked post on Instagram is the photos of Lionel Messi and his teammates after winning FIFA World Cup 2022 with 74.4 million likes overtaking the egg photo with 58.8 million likes.

An interesting note to take, before FIFA World Cup 2022, the most liked Instagram post was the bird egg. The egg Instagram post held the number 1 rank for 47 months or almost 4 years.

Infographic about the most liked post on Instagram

Sources: Later Blog, Instagram

What is the most commented Instagram Post?

The most commented Instagram post is by Alexandros Kopsialis with 43.2 million comments. It’s a photo of a paid partnership with La Vie En Rose where the winner can be chosen among the comments.

The giveaways included a car, Sony Playstations, and iPhone 12s.

Infographic about the most commented Instagram post

Source: Instagram

Who has the most followers on Instagram?

Instagram’s own account holds the most number of followers on the platform with 587 million followers. Excluding the Instagram account, Cristiano Ronaldo has the largest following with 529 million followers.

Graph about top Instagram accounts

Source: Instagram

How many people have over 1 million followers on Instagram?

There are 11.8 million Instagram users with over 1 million followers. There are 2 billion users on Instagram and 0.59% of those have over a million followers.

Meanwhile, 65.26% of Instagram users have 1,000 followers or less.

Infographic about number of people having over 1 million followers on Instagrams

Source: Mention

When is the best time to post on Instagram?

The best time to post on Instagram is from 6 p.m. to 8 p.m. on Sunday. Typically, when the average engagement rate is more than 6% during Sunday.

Source: Search Engine Journal, Mention

What is the best type of post to get likes on Instagram?

Video-type Instagram posts receive the most likes with an average of 1,097.95 likes. This also means that people will more likely to engage with video-type posts.

Carousel-type posts have 933.72 likes and Image type posts get an average of 476.15 likes.

Source: Mention

What is the best type of post to get comments on Instagram?

Video-type posts on Instagram receive an average of 24.25 comments while Carousel-type posts on Instagram receive 23.2 comments.

Source: Mention

What are the most viewed reels on Instagram in 2023?

Khaby Lame’s reels have the most views on Instagram in 2023. Not only are his reels funny, but it also gives his viewers good vibes.

The most viewed reel on Instagram was khaby00’s hot flat iron problems.

Infographic about the most viewed reels on Instagram

Source: Instagram

What is the average Instagram reach by the number of followers?

The average reach for Instagram accounts with large followings is 12% for Instagram posts and 2% for Instagram stories.

The average reach for Instagram accounts with small followings is 32% for Instagram posts and 8% for Instagram stories.

Source: Bazaar Voice

Average Instagram Reel Reach by Number of Followers

Reels of Instagram accounts with around 500 followers and fewer are viewed by almost 9 times the number of their followers.

As we can see in the data below, the more the number of followers, the lesser the reach of their Instagram reels. This holds true for Instagram accounts with tens of millions of followers where only 64% of their followers viewed their reels.

Graph about aAverage Instagram Reel Reach by Number of Followers

Source: Statista

Average Instagram Post Reach by Number of Followers

Instagram posts of users with up to 500 followers reach 77% of their followers. Meanwhile, Instagram profiles with a larger number of followers have a 19% of reach.

Graph about Average Instagram Post Reach by Number of Followers

Source: Statista

How many businesses are using Instagram?

There are 200 million business profiles on Instagram in 2022

Graph about number of businesses using Instagram

Source: Instagram

How many advertisers use Instagram?

In 2018, There are more than 2 million advertisers who are using Instagram an increase of +100% in year-over-year growth from 2017.

In years, Instagram has not released any official statement.

Graph about number of advertisers using Instagram

Source: Instagram 1, Instagram 2, Tech Crunch

Instagram Business Profiles Reach: Reels, Posts, & Conversion Rates

This section presents us with information on business profiles’ reach on their reels and posts. This section also presents us with conversion rates per specific range of followers.

Average Instagram Reels Reach of Business Profiles

Instagram business profiles with less than 10,000 followers have the highest average percentage reach of 32.2% while Instagram business profiles with over 1 million followers have an 8.1% average percentage reach.

Source: Bazaar Voice

Average Instagram Post Reach of Business Profiles

Instagram posts of business profiles with more than 1 million followers are viewed by only 1.2% of their followers. It means that at least 12,000 people saw their posts whether it’s for a new product or an update of information for a new product.

It should also be noted that business profiles with fewer followers have a higher percentage reach than those with a larger number of followers.

Source: Bazaar Voice

Instagram Reach Average Conversion Rate of Business Profiles

Aside from the engagement rate, it is also important to know the conversion rate of your Instagram posts. Conversion rate refers to how many people actually follow up on their interest in your post, whether they purchase a product or went on to visit your website.

Instagram business profiles with over 1 million followers have a conversation rate of 0.70%. This means that at least 7,000 people follow up on their interest in their posts.

Meanwhile, Instagram business profiles with less than 10,000 followers have the highest conversation rate of 2.6%.

Source: Bazaar Voice

Instagram Business Profiles Engagement Rate

Analyzing the engagement rate of business profiles on Instagram is important. It determines how a business will take action based on the engagement rate of its posts. This help determines which product posts interest the consumers more. It also helps business owners to understand which posts will grow more audience engagement. After all, more eyes on the products equate to more potential buyers.

Source: Georgetown University Article

Average Engagement Rate for Feed Posts

Instagram users with over 1 million followers have an average of 9.2% engagement rate for feed posts. Meanwhile, Instagram users with less than 10,000 followers have the highest engagement rate of 12.0%.

Source: Bazaar Voice

Average Engagement Rate for Photos vs Video

Instagram users with 51,000 to 100,000 followers have the highest video engagement rate of 8.9% while Instagram users with less than 10,000 have the highest photo engagement rate of 12.0%. Meanwhile, Instagram users wi

Source: Bazaar Voice

Industries with the Highest Visual Content Engagement Rate on Instagram

CPG industry, or consumer packaged goods, has the highest visual content engagement rate in Instagram with a 10.2% photo engagement rate and 9.0% video engagement rate.

Graph about Industries with the Highest Visual Content Engagement Rate on Instagram

Source: Bazaar Voice

How much time do people spend on Instagram?

An Instagram user spends an average of 11.2 hours per month and 24 to 32 minutes per day on Instagram. The time spent on the app and platform differs by age range according to Instagram’s report. Here is a clearer overview:

Graph about average time Instagram users spend
Graph about average time Instagram users spend

Source: Instagram

Average Time Spent on Instagram per Country

There are 52.15 million Instagram users in Turkey. Users in Turkey have an average time spent of 20.2 per month on Instagram. Meanwhile, Instagram users from Argentina and Indonesia spend 16.6 hours and 15.6 hours on Instagram respectively.

Graph about Average Time Spent on Instagram per Country

Source: App Annie

Instagram Mobile Apps: iOS vs Android

Here is the key stat and info for Instagram App on Android.

Here is the key stat and info for Instagram App on iOS.

Sources: Google Play, Apple Store

Which countries have the most Instagram users?

In 2023, India has the most number of Instagram accounts at 1.428 billion. Following in second place is China with 1.425 billion Instagram accounts

Graph about countries that have the most Instagram users

Source: Statista

Which countries visit Instagram the most?

The US is the #1 country visiting Instagram, with 19.01% of the total traffic coming from American users.

Followed by the US, Brazil is the second country which delivers most traffic to Instagram (8.69%).

Graph about top countries that visit Instagram

Source: Similarweb

Where is Instagram available (in which countries)?

Instagram is available in almost every country except for these 3 countries.

  • North Korea
  • Iran
  • China

Source: Instafamous

Instagram Traffic Overview

Instagram has daily unique visitors of over 200 million people on both their website and mobile app. Instagram also receives 6.2 million visits each month with 10.70 pages per visitor.

Instagram is currently ranked 11 by Alexa with a reach of 4.2% of global internet users.

Source: HypeStat

Instagram Web Traffic Sources

Source: HypeStat

How much web traffic comes from Instagram mobile?

Most web traffic on Instagram comes from their mobile app, at 67.55%.

Graph about most web traffic on Instagram

Source: HypeStat

How much money does Instagram lose due to AdBlock?

HypeStat estimates that Instagram loses $169.5 million in ad revenue due to AdBlock each year.

Source: HypeStat

How many page views are blocked on Instagram due to AdBlock?

There are 119.9 billion pageviews blocked each year on Instagram due to AdBlock.

Source: HypeStat

What is Kevin Systrom’s net worth?

Kevin Systrom has a net worth of $1.2 billion in January 2023.

Source: Forbes

What is Adam Mosseri’s net worth?

Adam Mosseri has an estimated net worth of $120 million by 2022. He was appointed as the head of Instagram in October 2018.

Source: Exact Net Worth

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About the author

Ch Daniel is the co-founder of SignHouse and chairman of the CH Group. Daniel is leading the development of SignHouse's product, as well as strategising how else the company can reach its main mission: empowering 100M+ to use the world's most efficient document organisational tools.