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.