Instagram Seeing Fast Growth Among U.S. Companies
According to a recent report by eMarketer, more companies are using social media platforms to advertise than ever before.
The report ranked Facebook Inc.(NASDAQ: FB) and Twitter Inc (NYSE: TWTR) as leading in market share, with Instagram seeing the fastest year-over-year growth of all the platforms. Experts estimate 89 percent of marketers will use social networks to increase the visibility of their brands and products by the end of next year.
More Accounts And Profiles Mean More Spending
Contributors to eMarketer wrote, “As marketers have increased their use of social media, their spending is also rising, and this shows no signs of slowing.”
“Keeping up with developments in social media is challenging for marketers, but the fact that they are increasing usage and spending makes it clear they are committed to the space, regardless of the shifts that take place from year to year,” the article continued.
Other reports show that while marketers’ use of social media is rising, their spending is as well. In a report by Ascend2, 67 percent of surveyed marketing professionals planned to increase their social media budgets, pointing to healthy growth in the sector. Facebook, Instagram and Twitter appear ready to take advantage of this growing demand, as companies attempt to reach the viewership of each respective social media platform.
Facebook closed Wednesday at $106.07, down 0.98 percent.
Twitter closed Wednesday at $25.41, down 0.47 percent.
Image Credit: Public Domain
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.