Instagram is projected to earn up to $400 million in 2014, and is one step closer to hitting that figure thanks to a $100 million deal with Omnicom.
According to Advertising Age, the deal will last one year and enable the media agency to advertise across the social network.
Omnicom Media Group is one of the largest conglomerates of its kind, and currently manages over 1,500 different agencies across the globe.
Both companies have confirmed the partnership, but did not release any further details about the deal.
From Instagram director of market operations Jim Squires:
“This doesn’t change our advertising strategy moving forward — people will continue to see a limited number of beautiful, high-quality photos and videos from select brands who already have a strong presence on Instagram. Our teams are going to work hand in hand to develop and execute campaigns that provide people with amazing imagery. This is an exciting new chapter and we’re looking forward to the great creative content that comes out of this partnership.”
Instagram ads were first introduced in October 2013, and despite the lucrative deal, the social network is showing that its committed to not overdoing it.