Facebook Inc.’s (FB) Instagram is having a strong year so far, with the photo-sharing social network setting milestones for advertisers and users.

Now it has yet another feather to put in its cap: More than half of U.S. Millennials are active on Instagram, according to eMarketer, the marketing research firm. Facebook still leads in that metric with between 85% and 89% of millennials active on the social network, depending on their age. Snapchat is in second place, but Instagram is a close third with 59% of those between the ages of 18 and 24 active on the social platform and 54% of those aged 25 to 34 using the photo sharing platform on a regular basis. Among college-age mobile phone users, eMarketer said that as of April 2016, 39% used Instagram. Snapchat had 18% market share with that demographic and Facebook had a 29% share. Twitter was at 14% among college students with mobile devices. What’s more, eMarketer is finding that Instagram’s U.S. base is large and growing and will continue to do so for years to come. eMarketer is forecasting the growth rate of Instagram users to jump from 57.4 million in 2015 to 95.1 million by 2020. (See also: Instagram Releases Year-End Data.)

 

Instagram has been clocking a number of milestones on the advertising and user fronts. The company yesterday announced it reached 700 million monthly active users (MAUs). In a blog post, the social media network operator said it added 100 million new users since the start of the year. Instagram attributed the growth to efforts to make it easier for people to join as well as the launch of new features including: Stories, live video and disappearing messages.

Instagram didn’t break out how many daily active users it has or any data on the use of Stories. Instagram’s latest user announcement comes just a month after disclosing it now has more than 1 million monthly advertisers, up from 200,000 in the same time period a year ago. Instagram credited the explosive advertiser growth to the many new features it debuted in recent months. 

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.