Facebook’s Instagram is bringing more than 30 advertisers into one of its fastest-growing features, Instagram Stories, in a bid to boost advertising revenue.
The new ad product will show full-screen ads intermittently as users’ swipe through photos and videos on Instagram stories.
The social media company will become a more important player in maintaining Facebook’s growth in advertising revenue in 2017.
“Instagram could end up being as strong a revenue component for Facebook as YouTube has been for Google,” said Noah Mallin, head of social for North America at ad agency MEC
According to eMarketer, 74% of US companies plan to use Instagram this year, up from 53% who used it for marketing in 2016. This level of use would allow Instagram to surpass Twitter.
