Instagram has announced that it now has more than 500,000 active advertisers on its platform. Strong growth, given that Facebook’s photo and video-sharing app only opened up its ads platform a year ago, and grew to 200,000 active advertisers in February. “In just six months, the number of advertisers has more than doubled,” claimed Instagram yesterday. “The top five countries seeing advertiser adoption are the US, Brazil, UK, Australia and Canada.” The company says that 50% of Instagram users follow at least one business, while there have been “one billion actions taken on Instagram ads” in the last year – actions including “visiting a website, searching, shopping or telling a friend”. These are some soft metrics, but how much money is Instagram making from all those ads? Research firm eMarketer published some estimates yesterday: it claims Instagram will make $1.86bn of ad revenues in 2016, with 85% of them coming from the US. That would mean Instagram accounting for around 8.4% of Facebook’s overall ad revenues.