The social network Instagram in 2023 overtook TikTok in terms of the number of new downloads, while the growth of the American platform was due to copying the success of its Chinese competitor with short videos. The Financial Times writes about this.
► Subscribe to the Telegram channel “Ministry of Finance”: main financial news
The total number of downloads of the Instagram application in 2023 increased by 20% to 768 million compared to the previous year, making it the most downloaded app in the world.
At the same time, the number of downloads of TikTok, owned by the Beijing company ByteDance, grew by only 4% over the same period, to 733 million dollars.
Statistics show that Instagram is successfully attracting new users.
In 2020, Instagram introduced “Reels,” a feature that allowed users to share short videos by cloning the feature viral TikTok videos.
