AdAge reports Instagram (FB -1.5%), which only began showing ads last fall, has scored a year-long commitment from top ad agency Omnicom (OMC -0.1%) to spend up to $100M. The magazine also reports Instagram is talking with Starcom MediaVest, another leading agency.
Instagram has confirmed the tie-up, but not its specifics. "Our teams are going to work hand in hand to develop and execute campaigns that provide people with amazing imagery."
The mobile photo-sharing platform has been cautious with its efforts to monetize its ~180M MAUs. Select brands and their agency partners are currently able to buy photo/video-based ads that appear in a user's stream, but the ads have to meet Instagram's stringent quality standards.
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