Instagram has become the leading social media platform and if you haven’t at least heard of it, chances are that you are probably living under a rock. Often shortened to Insta or IG, the platform allows its users to share images or videos with their audience. In April 2012 when Facebook purchased Instagram for about a billion dollars in cash and stock, it was following a key provision that the company would remain independently managed. While the growth has continued to increase since the Facebook acquisition, Instagram has made relatively small changes to the app, sticking to its simple and intuitive user experience and core focus on photo and video sharing capabilities. The large amount of monthly active users are showing that this approach works well. In the last few years, Instagram has proven to be an effective platform for marketers to reach new audiences in a way that the audience wants to be marketed. But will this growth continue in the future?
When we take a glance at history, every empire (thing) that goes up with a lot of hype is destined to fall if it doesn’t evolve itself according to the dynamic environment. Instagram has been able to reach and stay at the top position in the world of social media because of the changes it made which suited its users. Instagram stories, IGTV videos, and the recent introduction of Instagram reels are the reason for users to tune in again and again. Unfortunately, it is projected that compared to the year 2019 when Instagram grew by 6.7%, by 2023 it is expected to grow by a mere 1%, the main reason behind this is that there is an overwhelming percentage of the population already present/using on the app. Instagram is a platform more suitable for generation Z & Y, unlike Facebook which has something to offer to all age groups.
As Gen Z focuses on topics like online bullying, not wanting to be tracked, not liking their faces to appear publicly for more than a few hours and above all not liking ads. While this might pose a dire situation and predict the fall of Instagram as the amount of new Gen Z joining the app is slowing down, the reality might be different We can argue that numbers aren’t increasing for Instagram at an impressive rate but the engagement time of the registered users is fairly impressive. The increased engagement rates for Instagram are an outcome of the introduction of new features and modifications in the app. Big companies, as well as Individuals, have their Instagram handles which are updated on regular basis to run their businesses.
So we can conclude this in 2 schools of thought, the first is that it’s already dead as now it’s driven by ads and focuses more on business and the second is that it has adapted itself to the dynamic environment and corporatizing was a necessity for evolution. In the end its up to you dear reader to pass the verdict.
 |
Kshitij-Barua, PGP Batch Indian Institute of Management Ahmedabad |
