Instagram achieved the 2 billion active monthly user mark this autumn despite receiving scrutiny from lawmakers in Congress who have been studying the platform's potential negative impact on young people, the report said.
Instagram CEO Adam Mosseri testified before the US Senate Commerce subcommittee last week about the platform's youth user base and the company's plan to create a version of the application designed specifically for children under 13. Mosseri declined to commit on ending the development of a children's version of the application.
Instagram's user expansion is important given the competition it faces from TikTok, the report said. Data from SensorTower shows that in terms of downloads, Instagram remains competitive with TikTok, having been installed 570.7 million times and 596.1 million times respectively, the report added.
Instagram's parent company formerly known as Facebook underwent a name change to Meta in an effort to rebrand and foster a new public image amid the regulatory probe and challenges to their image after whistleblower Frances Haugen exposed toxic business practices and the negative impact, particularly from Instagram, on young girls.