Instagram Launches Business Accounts, Provides Analytics

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An attendee takes a photo of the Instagram logo during a press event at Facebook headquarters on June 20, 2013 in Menlo Park, Calif.

"Stand out, get insights and find new customers." This is the trifecta of Instagram's insights, following "hundreds of interviews" with businesses on the Facebook-owned photo sharing app, into what those users most need.

To that end, the company has rolled out three fairly major updates to its platform, two of which are tied to the headline: the ability for businesses to have a differentiated account. The new account type   allows users to contact businesses more directly than through commenting on uploads, provides them analytic tools and the ability to promote posts that are performing well.

The features could be a boon for musicians and music-related companies. A study from Nielsen released earlier this year found that Instagram users are particularly engaged fans of music. The study found that Instagram-using music fans spent more on money (at least, they said they did), were more likely to stream music and twice as likely to pay to stream it.

Additionally, five of the top ten most-followed accounts on the platform are music-related, according to Statista.

For a small label, artist or manager, Instagram's new features will, clearly, help them target and more effectively promote to the platform's 400-million-plus users. The photo sharing app has become a vibrant online community, and many use it as a social hub separate from the bloat of Facebook's main application. As the digital marketplace becomes inexorably complex and fragmented, any assistance in reading the tea leaves buried under all those algorithms is a useful thing indeed.


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