New Delhi: Meta Platforms Inc. generated nearly 30 per cent of its revenue from Instagram during the initial half of 2022, marking the first disclosure of the substantial earnings produced by the widely used photo and video platform, as per court documents.
In 2020, Instagram generated $22 billion, representing 26% of Meta’s overall revenue, as per documents disclosed in the Federal Trade Commission’s antitrust lawsuit aimed at breaking the company. The revenue from Instagram surged to $32.4 billion in 2021, constituting 27% of Meta’s total business. During the initial half of 2022, the app contributed $16.5 billion in revenue.
These figures show that Instagram is growing faster than other parts of Meta’s social networking world. They also prove that Mark Zuckerberg made a great deal when he bought Instagram for only $715 million in 2012. (Also Read: WhatsApp Call Scam Alert! Be Cautious If You Receive Calls From These Numbers, Government Warns)
During its quarterly reports, Meta doesn’t say how much money Instagram brings in separately. When asked, a spokesperson for the company wouldn’t comment. Meta also wants the judge to dismiss the FTC’s case before it goes to trial. They say the agency hasn’t shown how buying Instagram and WhatsApp hurt consumers.
In 2023, Meta Inc, the social media giant, had taken down 33.18 million posts, comprising photos, videos, and comments, in India from its platforms Facebook and Instagram due to violations of community standards. (Also Read: OpenAI Used Over A Million Hours Of YouTube Videos To Train Its AI Model: Report)
Meta also took action against content across 13 policies for Facebook and 12 policies on Instagram for the period between April 1 and April 30 last year.