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NEWS: Facebook and Instagram set to dominate digital marketing budgets

Facebook and Instagram are projected to control around 65 per cent of marketers’ social media budgets this year, according to research by eMarketer.

Facebook-owned platform Instagram now has over 400 million monthly users, and is predicted to rake in $600 million in ad revenue this year.

This profit is set to rise to $1.5 billion in 2016, with Instagram currently accounting for only five per cent of Facebook’s overall ad revenue.

According to the study, ad spend on social media will exceed $25 billion this year, with Facebook enjoying a 25 per cent rise in ad buyers.