Yesterday, Mark Zuckerberg plunged three places in the global rich-list following a cataclysmic drop in Facebook’s market value. User growth has slowed due to privacy scandals, and Zuck’s social media giant remains in the mire.
They’ll want to make up that 119 billion dollar drop somehow, and it looks like the under-fire company are pinning their hopes on monetising the hell out of your Instagram feed.
In a conference call with analysts, chief operating officer Sheryl Sandberg said: ‘When we think about Instagram we think we have a great opportunity: 25 million Instagram business profiles, 2 million advertisers.
‘I think Instagram is definitely… an opportunity. Part of it’s the format. The format is so visually appealing and people are telling stories with pictures so we see both anecdotally and in the data that this is a great place for people to become aware of a product in the first place.’
According to The Metro, that points towards the introduction of adverts into Instagram stories, which will break up all of those invaluable, always interesting snippets of your friends’ daily lives. Chief financial officer David Wehner described as ‘an area of continued growth opportunity’.
Sandberg added: ‘We have 400 million people sharing with Instagram Stories, 450 million of people with WhatsApp Status. Facebook is newer, but we’re seeing good progress there.
‘The question is will this monetise at the same rate as News Feed? And we honestly don’t know, we’ll have to see what happens. There are good reasons to be very optimistic about the monetisation. The opportunity—full-screen authentic, very engaging, different formats than feed—gives us an opportunity to grow.’
This story originally appeared on Esquire.co.uk.
* Minor edits have been made by the Esquiremag.ph editors.