Report: Facebook to rely on Instagram for its ad revenue growth
Recode columnist Curt Wagner has published a report that states that social media network Facebook may soon have to rely on Instagram for its ad revenue growth.
Wagner says, “Instagram is an incredibly important part of Facebook’s future, and Facebook and CEO Mark Zuckerberg are now under pressure to make sure their prized acquisition doesn’t go off the rails with its co-founders out of the building. Zuckerberg surely knows that. It’s likely why he appointed Adam Mosseri, a well-liked and experienced Facebook product executive, to take over at Instagram”.
According to the report, this year Instagram ad revenues are expected to reach $8-$9 billion. And during the last quarter the Instagram ad revenue accounted for 15% of Facebook ad revenue.
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