Many users think of Instagram as the younger, cooler Facebook. And advertisers think so, too. In the first installment of my interview with Mark Rabkin, vice president of ads and business platform at Facebook, we talked about how Facebook has changed some rules around ads as part of an effort to clean up its "data supply chain," and whether that has advertisers leaving the platform. Many ad dollars are migrating from Facebook, but not away from the company altogether. They're shifting to Instagram (which is owned, of course, by Facebook).
One analyst estimates that ads on Instagram will account for 70 percent of Facebook's new revenue by 2020, and Rabkin says the most exciting thing for the company is Stories. Those are the super-popular posts that expire after 24 hours (and yeah, Instagram may have stolen the idea from Snapchat). There are even Stories on Facebook now. Rabkin told me people are posting over a billion stories a day, and advertisers need to embrace the format, quick.