Dive Brief:
- Video advertisers on Instagram are finding the social media platform to be something of a bargain with some ads costing only two cents a view.
- The number of participating advertisers on Instagram is also increasing now that marketers can purchase through a variety of third-party platforms including Salesforce, Kenshoo, Nanigans and Sprinklr.
- Instagram recently changed how it looks, getting away from its long-standing square format and adding vertical video and wide-screen images for its users, including marketers.
Dive Insight:
Instagram is giving its parent company Facebook a run for its money in becoming an attractive market for video advertisers with some industry insiders reporting video ads costing as little as two cent per view. Instagram has the same viewability standards for video ads as Facebook at being seen for at least three seconds. Instagram is also increasing the number of marketers advertising after opening up ad sales to third party platforms such as Salesforce, Kenshoo, Nanigans and Sprinklr.
Instagram’s pricing compares evenly with Snapchat, and is lower than YouTube’s ten cents for pre-roll video ads, although 22squared’s Chris Huff, head of business development and partnerships, said Instagram’s video ads can be more valuable to marketers than pre-roll ads because they take over the screen and are designed specifically for Instagram.
In other recent Instagram news, both users and marketers are getting new creative options and will no longer be limited to its longstanding square format with the addition of vertical video and wide-screen images.
