Mar 24, 2017 04:07 AM EDT

Instagram Has 1 Million Advertisers

Instagram now has 1 million monthly advertisers. A majority of those advertisers are small businesses.

In a blog post, it was revealed by the photo-sharing app, Instagram, that it has grown its community to more than 600 million around the world. It boasts of business profiles numbering at 8 million and monthly active advertisers at more than 1 million.

It writes that most of its advertisers are made up of small businesses. It cites SpearmintLOVE CEO Shari Lott as an example, who says that her business grew with Instagram, from simply getting the word out to being tagged in photos to increasing sales using ads.

James Quarles, who is the VP of Business, told Forbes that businesses start small and eventually grow with Instagram. "If you're opening a business today, no matter what, you'll start on Instagram and Facebook."

In fact, Instagram says that more than 120 million users "visited a website, got directions, called, emailed or direct messaged to learn about a business," in the last month alone.

One million advertisers is a big milestone for the firm, says Quarles. Forbes writes further that an estimated $3.64 billion in global advertising revenue is expected to be generated by Instagram this year. 

Quarles adds that what small firms love about Instagram is the fact that it is easy to set up an account and start posting photos. Instagram's blog post says that its tools are easy to use. Boomerang and Hyperlapse help firms create attractive and compelling content, it writes.   

Quarles also talked about the reason why businesses are attracted to the platform and that is because it is a one-stop place for people to follow interests and passions. These interests can be used as targeting signals for ads, he adds.

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