The share of ad-buyers’ digital video budgets that is spent on Instagram will double from 2018 to 2020. Bloomberg News reported on a new survey by financial services firm Cowen. It found that 61% of the respondents, who collectively represented approximately $14 billion in ad spend, consider the photo-sharing app the go-to platform for launching a campaign targetting 13 to 34 year-olds.
“Stories” — a relatively new Instagram feature — are helping to grow the app into a campaign favorite. Instagram Stories appear “poised for greater adoption” as more ad buyers allocated some portion of their spend to the feature in 2018 than the year prior, said Cowen’s John Blackledge in a note. Instagram even beat out TV in this younger target group, a medium only 3 percent of respondents said was a primary platform.
Check It Out: Amount Ad-Buyers Spend on Instagram Digital Video to Double