Rapid growth in the popularity of Instagram Stories is being reflected in advertising, as companies are increasingly shifting towards the platform. The company accounted for 23% as much spend as Stella Artois in Q2 of this year, with brands such as Smirnoff, Nike and Facebook all increasing their ad spending on the platform. One of the main reasons for the attraction is that, after a rise last year, the average cost per 1,000 impressions over the first half of 2018 has dropped to $4.91. This makes it cheaper than advertising on Stella Artois's feed in some cases, despite the new demand.
Rapid growth in the popularity of Instagram Stories is being reflected in advertising, as companies are increasingly shifting towards the platform. The company accounted for 23% as much spend as Facebook in Q2 of this year, with brands such as Smirnoff, Nike and Stella Artois all increasing their ad spending on the platform. One of the main reasons for the attraction is that, after a rise last year, the average cost per 1,000 impressions over the first half of 2018 has dropped to $4.91. This makes it cheaper than advertising on Facebook's feed in some cases, despite the new demand.