Instagram statistics you need to know for 2024 [Updated]
You likely often check how your brand is doing on Instagram. However, just looking at your stats isn’t enough. You need to know the latest Instagram statistics to see how others are doing and spot current trends.
Keeping up with new social media stats helps you prepare for changes and improve your plan. This is especially true for Instagram, which changes quickly with new features.
Let’s explore some important Instagram stats that will guide your strategy in 2024.
Instagram user statistics
Knowing how people see and use Instagram will help you connect with them better. This will also help you create smart Instagram practices for your strategy. These Instagram user statistics can give you a clearer picture:
Almost all Instagram users use the app alongside other social platforms
Data from Kepios shows that only 0.2% of Instagram users are on Instagram alone. Most people also use other platforms like Facebook (80.8%), YouTube (77.4%), and TikTok (52.8%). So, it’s important to have a strong marketing plan that works across different platforms for your brand to thrive.
Posting photos & videos is still the top activity
In the past, most people used Instagram to post or share photos and videos. In 2024, this hasn’t changed much—70.4% of users still use the platform for this reason, according to Kepios. This shows that users want to be creative and express themselves.
Users seek entertainment on the platform
The same report also shows that more people are using Instagram for entertainment. Finding funny or entertaining content is the second most popular activity, with 64.8% of users doing this. Brands should create content that entertains their audience to stay ahead.
Instagram Usage Statistics
How popular is Instagram? Let’s check out these Instagram usage statistics to find out:
Instagram has 2 billion monthly active users
Recent reports show that Instagram has 2 billion monthly active users. While it’s not as big as Facebook (over 3 billion), it’s still a huge audience for brands. With the right strategies, you can turn these users into loyal fans of your brand.
US adults spend around 33 minutes per day on Instagram
Video platforms like YouTube and TikTok are very popular with social media users. However, people are still spending a lot of time on Instagram. Time spent on Instagram has slightly increased over the past year. U.S. adults now spend 33.1 minutes daily on the platform, a 3-minute increase from the previous year.
Instagram Audience and Demographic Statistics
Understanding Instagram’s demographics gives you an idea of who uses the platform. This info helps you decide if Instagram is right for your target audience. Here’s a quick look at Instagram statistics about its users and demographics.
Both genders are equally represented
As of January 2024, Statista reports that 50.6% of the user base is male, and the remaining 49.4% is female. The audience is almost evenly split, so the platform works well for reaching both men and women.
Instagram dominates with younger audiences
Instagram is most popular with users ages 18 to 34, making up over 60% of its users. This means the platform is perfect if your target audience includes young adults and Millennials.
The United States has the second most users worldwide
As of January 2024, India has the most Instagram users, with 362.9 million people on the platform. The United States follows with 169.65 million users.
Instagram Advertising & Marketing Statistics
Are you making the most of your Instagram ads? Is marketing your brand on Instagram worth it? Here are some Instagram stats that will help you find the answers.
Instagram’s ad reach is growing
With more users, Instagram’s ad reach is growing. Kepios reports a 12.2% increase in ad reach over the past year. This makes Instagram a great choice for brands looking to advertise.
In-feed ads account for most of Instagram’s ad revenue
Oberlo reports that Instagram’s ad revenue reached $50.58 billion in 2023. In-feed ads were a big part of this, while ads on Instagram Stories made up 26.7% of the total. In 2024, Instagram’s ad revenue is expected to grow to $59.6 billion.
Feed ads have a higher CTR than Stories ads
One reason for the preference for in-feed ads is their higher click-through rate (CTR). Brafton reports that the CTR for Instagram feed ads ranges from 0.22% to 0.88%, while Stories ads have a CTR between 0.33% and 0.54%. This suggests that in-feed ads may drive more clicks than Stories ads. However, it’s a good idea to try different ad placements to see what works best for your audience.
The average CPC of Instagram ads is $0.25 or less
Ad costs on Instagram are similar to other top platforms like Facebook.
A WebFX survey shows that the cost-per-click (CPC) for Instagram ads ranges from $0.00 to $0.25. Impressions cost a bit more, with 46% of companies paying between $0.00 and $4.00 per 1,000 impressions (CPM). For cost-per-engagement (CPE), you can expect to spend around $0.03 to $0.08.
The average conversion rate is around 1%
Bazaarvoice found that the average conversion rate for top brands on Instagram is 1%. The study showed a strong link between reach and conversion rate.
Interestingly, it’s not just smaller brands with higher conversions anymore. Brands with up to 100k followers saw better conversions this year (1.1%) than last year (0.3%). Smaller brands with fewer than 10k followers still have the highest conversion rate (1.3%), though lower than last year’s 2.6%. Brands with 500k to 1 million followers had a steady conversion rate of 0.7%, similar to previous years.
Instagram Stories & Reels Statistics
Instagram provides many content options, with Stories and Reels being especially popular. Here are some statistics to show how these formats are performing:
Story reach is climbing again
After declining in recent years, the reach rate for Instagram Stories is finally starting to rise. A RivalQ study shows that smaller brands with under 10k followers saw the biggest increase, with a 35% rise in Story reach rate. Other groups had smaller increases, while mid-size brands saw no change in their reach rate.
Retention continues to drop with an increase in the number of frames
The same Rival IQ study found that the number of frames in your Instagram Stories affects how well you keep your audience. After a big drop after the first two frames, the median retention rate stays at 81% by the fourth frame. However, the retention rate falls below 75% after the seventh frame.
Short narratives dominate Instagram Stories
People prefer short Instagram Stories the most. Thirty-five percent of users like Stories that mix photos, videos, and text. Quizzes and polls are also popular choices.
If you need new Instagram Story ideas, use these stats to brainstorm ways to engage your audience.
Reels still have the highest reach rate
Since their launch, Reels have outperformed other content types in reach. A Socialinsider study found that Reels have an average reach rate of 30.81%, which is double that of the other formats. Reels also get twice as many impressions as other post types.
However, this upward trend might not last. The visibility of Reels is slowing down. The RivalIQ study showed that Reels had the smallest increase in reach compared to other post types.
Reel engagement is slipping
Engagement rates for Instagram Reels are beginning to drop. The SocialInsider study showed a 25% decline in Reels engagement in 2023. Still, the average engagement rate for Instagram Reels is 1.23% per post, making it the most engaging type of Instagram content.
The drop in engagement doesn’t mean brands should stop making Reels. Instead, it shows the need to create Reels that truly engage your audience. Take a look at our Instagram Reel ideas guide to create captivating Reels and stay ahead of the competition.
Instagram for Business Statistics
The benefits of using Instagram to market your business are clear. Let’s explore these Instagram business stats to understand its value better:
70% of shoppers refer to Instagram for their next purchase
Internal Instagram data shows that 70% of shoppers use the platform to find their next purchase. This means people turn to Instagram for shopping inspiration and to discover new products.
More than 50% of Instagram users follow and/or research brands and products
While people mainly use Instagram to share and view content, they also interact with brands. According to Kepios, 62.7% of Instagram users follow or research brands and products on the app. This makes it the third most popular activity on Instagram, showing how the platform influences buying decisions.
Even more, Instagram is the top platform for researching and following brands and products, compared to all other social media platforms.
Instagram Influencer Statistics
Instagram’s role in influencer marketing keeps growing stronger. Many brands now use the platform for their influencer marketing campaigns. Here’s a quick look at some key influencer marketing stats for Instagram:
Instagram is the premier platform for influencer marketing
It’s no surprise that Instagram is the top platform for influencer marketing. Recent stats show that 80.8% of marketers plan to use it for influencer marketing in 2024. If you’re considering working with influencers, Instagram is a great place to begin.
Most Instagram influencers are nano influencers
Statista reports that nano influencers with 1,000-10,000 followers make up 65.39% of Instagram influencer accounts. Micro-influencers are the second largest group, accounting for 27.73% of influencer accounts.
This is great news for brands, especially with the rise of nano influencers. It means brands have plenty of options on Instagram to find the right influencers with the perfect niche and engaged audiences.
Good night and good luck!
These Instagram statistics provide a clearer view of the platform, helping you understand the competition. Use them to create a strong Instagram marketing strategy for your brand.
