Instagram’s new ad platform debuted in August of 2015, resulting in a surge of new interest in the platform. 

Last month, Brand Networks released a study on Instagram advertising. Their findings showed that the total number of ad impressions increased from 50,000,000 in August to nearly 700,000,000 in December. In the short period of time that Instagram advertising has been available, it has already sold 600 million dollars worth of ads – and it appears that the platform is in for more success. By 2017, Instagram is predicted to outsell other leading mobile ad platforms, and eMarketer estimates that Instagram’s advertising revenue will reach $1.48 billion this year.

The primary contributing factor to the newfound success of Instagram advertising is a rise of video content. The percentage of video ads reached 22.52% in December, up from only 9.54% in September.

“Over the past six months, we’ve learned that users are willing to increase their time spent interacting with a brand when shown a short video clip,” says Jamie Tedord, CEO and founder.

This is a game changer for brands…Brands who can offer this compelling video content stand out from the crowd and leave a lasting impression on the viewer.”

To understand the rise in Instagram advertising demand, we must look at Instagram’s primary user base – millennials. Since 87% of millennials say that they are never without their smartphone at their side, and 91% purchase on mobile platforms monthly. Since 56% of adults who are online use Instagram, marketers are flocking to the platform to reach their target audiences.

Industries are quickly and competitively developing strategies to stand out in congested Instagram feeds. Fashion and retail companies emphasize striking visual content, which Brand Networks suggests will likely ensure their continued dominance in 2016.

By constructing an Instagram ad campaign comprised of high quality, authentic images delivered on a consistent basis, brands are able to reach more customers and increase profits.

See the full Brand Networks infographic here.