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Instagram makes more money from ads than YouTube

2024-04-06 10:54:57Lifestyle SHKRUAR NGA REDAKSIA VOX

Instagram makes more money from ads than YouTube

We already knew that Instagram is a giant app that accounts for a significant portion of Meta's overall business.

But now we know just how big it really is, thanks to a new court filing: In 2021, the photo and video app generated $32.4 billion in ad revenue — that's 27% of Meta's total revenue.

More context: Instagram made more money selling ads that year than Google's YouTube, which generated $28.8 billion in ad revenue. (Analysts at MoffettNathanson put YouTube's total revenue for that year at $35.4 billion, after taking into account the money it makes from its music and TV subscription services.)

And remember that unlike YouTube, which gives 55% of every ad dollar it generates to content owners who upload videos to the site, Instagram (and most other social apps) spends much, much less. She still expects most users to give her photos and videos for free.

Instagram's revenue numbers come from a filing made by Meta this week in an effort to get a judge to dismiss a federal antitrust lawsuit.

We have no idea if that legal maneuver will be successful. But the documents do a great job of showing how quickly Instagram has grown under Meta's ownership. We recall that Meta, then Facebook, paid $1 billion for Instagram in 2012, when it was a revenue-free photo-sharing startup with a handful of employees. It is now run by former Facebook product executive Adam Mosseri.

From the filing: “Instagram generated ad revenue of $11.3 billion in 2018, $17.9 billion in 2019, $22 billion in 2020, $32.4 billion in 2021 and $16.5 billion in the first half of 2022.”

One last thing: Last month we noted that analysts now suggest YouTube could be worth $400 billion. These new numbers suggest that Instagram could very well be worth something similar.

A crude way to get there would be to assume that Instagram's growth has continued and that it now accounts for about a third of Meta's overall revenue. If we apply this ratio to the company's current market cap of $1.34 trillion, that brings us to $440 billion. Maybe worth thinking about next time you post a photo.


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