One year ago this week Instagram was acquired by Facebook for $1 billion. At the time Instagram was still a relatively small mobile app for editing and sharing photos. As we look back a year later has this investment really been worth it?
Instagram continues to grow under Facebook’s ownership.
“Its following quadrupled to more than 100 million monthly active users, thanks in part to Instagram's expansion to Android just days before Facebook agreed to acquire it.” Mashable notes.
Instagram users have seen many changes in the past year including a web-based feed, photo maps, and new filters. Many companies have jumped on the Instagram bandwagon and are benefiting from the partnerships. One company in particular that is doing great things and showing us how powerful the app can be is MTV.
MTV will take this to a new level when it comes to voting and interaction in their Movie Awards this year. Movie fans can vote for their favorite hero in the “Best Hero” category for the first time by using Instagram.
This category was introduced by MTV last year, but the live voting was only counted through Twitter. This year votes will be counted through both Twitter and Instagram. All users need to do is include the hashtag for the hero they would like to vote for. The votes will be accounted for on a grid-like home page that will be continuously changing. Mashable explains why Instagram is so valuable for a brand like MTV.
“MTV was the first brand to reach 1 million followers on Instagram in November. The @MTV Instagram account now has 1.2 million followers so leveraging the platform is a smart move.”
Instagram continues to grow under Facebook’s ownership so it only makes sense that a company such as MTV which has 43 million Facebook likes would want to promote their big event through this company.
The event will be covered not only through MTV’s Instagram but performers, guests, and award winners will be capturing the night through Facebook pages and apps. The MTV Movie Awards will begin 9 p.m. EST on Sunday at the Sony Pictures Studios Lot in Culver City, Calif.
When it comes down to it, it looks like Instagram may have been a good investment for Facebook. The question remains as to how long Instagram will remain independent from Facebook and how will Facebook monetize Instagram? Time will only tell for this top selling app.
Be sure to follow @NewsyVideos on Instagram for behind the scenes photos and the latests from the Newsy office.