Competition

There are many social media apps that Instagram competes with; however, I believe that Tiktok and Pinterest are Instagram’s main direct competitors.

Tiktok is a video sharing social media platform that was launched in 2016. Tiktok made over 1.9 billion dollars in revenue in 2020. As of 2020, there are over 700 million annual users on Tiktok. Instagram on the other hand was launched in 2010. Its annual revenue in 2020 was over 20 billion dollars. As of 2020 there were 1.3 billion annual users.

There are some key differences between TikTok and Instagram. Tiktok centers around video content, while Instagram focuses on both photos and videos. Because Instagram launched much earlier than Tiktok, it is much more established in the paid advertising space. Furthermore, TikTok is geared more toward Generation Z while Instagram is most popular amongst Millennials and older members of Generation Z.

The biggest similarity between the two social platforms is Instagram’s reels which is comparable to videos posted on Tiktok. Instagram released the reels feature in 2020 to compete with the rising popularity of Tiktok. Like Tiktok videos, reels are trendy, short-form videos usually centered around creative and informative content. Both apps allow for in-app editing, music library, effects, and filters.

Next, the social media platform Pinterest also serves as a source of competition with Instagram. Pinterest is an image sharing social media platform that was released in 2010. Both social media apps focus on visual content. While Instagram is primarily used to share a user’s photos and videos, Pinterest is all about curating and saving content that is often uploaded by other users. Pinterest has over 400 million active users compared to Instagram’s 1 billion+ users. Instagram is geared toward users that are from age 18 to 34 while Pinterest is geared toward users aged 18-50, mostly women. Pinterest generated over 1.6 billion dollars in revenue in 2020 compared to Instagram’s 20 billion dollars. 

Instagram also faces competition from many indirect competitors. An indirect competitor is a business that provides different products but still competes for the same market. A couple of examples of Instagram’s indirect competitors include Twitter and Snapchat.

Want to learn how to create reels on Instagram? Check this link out:

https://www.thedesigntwins.com/how-to-create-instagram-reels-that-wow-your-audience/

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