A new forecast by eMarketer says that Instagram will grow its mobile ad revenue from $595m this year to $2.81bn. To put that in context, that will be equal to 10% of parent company Facebook’s total global ad revenue. “Now that Instagram is opening up, there is a lot of pent-up demand,” said Debra Aho Williamson, eMarketer’s principal analyst.

“The rollout of new features over the next several months means that by the end of 2015, Instagram will have a host of new ad products for advertisers large and small. In particular, Instagram advertisers will be able to use a full slate of Facebook targeting tools, including the popular Custom Audiences feature. That will be a key drawing card.” The major market for Instagram’s ad income will be the US – accounting for 95% of global revenue this year, dropping slightly to 85% by 2017. The report also suggests the photo-sharing platform will grow its US userbase from 64.2m in 2014 to 111.6m (a third of the US population) by 2019.

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