Instagram now has 2 billion active members.
Meta disclosed the number in itsDuring the quarter, Instagram crossed two billion users, catching up with Meta’s first social media platform Facebook, the company said in a statement. The photo-sharing app announced it had hitMeta also said that more than two billion people now use its messaging app, WhatsApp, every day. This makes Meta’s total monthly users for its family of apps number 3.71 billion worldwide.after it reported another quarter of declining revenues.
Meanwhile, Instagram TikTok clone Reels is now the fastest-growing format across Meta’s family of apps and services, hitting a $3 billion annual revenue run rate in the third quarter of 2022, the company revealed in its earnings call on Wednesday. “On Instagram alone, people already reshare Reels one billion times a day through DMs,” says Zuckerberg.
He revealed that Reels is costing Meta more than $500 million in lost revenue per quarter. But the company expects to break even with Reels “over the next 12 to 18 months.”
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