The app far outpaced TikTok in global downloads last year, according to data from market intelligence firm Sensor Tower.
Instagram downloads increased by 20% in 2023 compared to the previous year, Sensor Tower estimated.
The simplest explanation is that Instagram's short-video product, reels, is pretty much just as good as TikTok at this point.
"Instagram already has reels, and it already caters to a broader audience because it has those other social-media features," explained Abe Yousef, a senior insights analyst at Sensor Tower.
Both TikTok and Instagram did not respond to a request for comment.
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