A new report by eMarketer projects some stunning statistics on mobile ad revenue for Instagram. This week, we take a closer look at the numbers and at how brands are driving engagement and revenue from this channel.

1. Instagram will bring in almost $600 million in mobile ad revenue this year.

“According to a new report from eMarketer, the photo and video sharing app will bring in $595 million in global mobile ad revenue this year. (Keep in mind that the service does not have a desktop product.) This is the first time the research firm has forecast Instagram’s ad sales.”

2. Fashion brands increase Instagram interactions by 77%.

“Instagram has presented marketers with a platform that is more engaging than Facebook or Twitter with fashion labels growing their communities by 27% to 2 million followers and beauty brands increasing by 30%, or 600,000 individuals.”

3. Fortnum & Mason goes “cross-channel” via Instagram takeover.

“One of the more interesting themes at the Fortune Brainstorm Tech conference was the future of ecommerce, which played out via a panel on the topic, as well as conversations with the founders of Pinterest and Stripe. … Moderator Leigh Gallagher of Fortune said this was the most disruptive time in retail since Sam Walton started Wal-Mart, and the panelists seemed to agree, although each had a different take on the changes.”

4. How the shifting ecommerce landscape impacts you.

“Digital commerce is growing at a dramatic pace: 23% year-over-year, according to Demandware’s latest Shopping Index, which analyzes activity of over 200 million shoppers worldwide. With this growth comes a change in the nature of the shopper. Here are some of the key trends that demand retailers’ attention and evolution.”

5. How Nordstrom fashioned a mega-sized outfit layout on Instagram.

For its Anniversary Sale (the annual #NSale), Nordstrom fashioned a massive outfit laydown atop its Seattle flagship store. Massive, as in 13,398 square feet! Get the story behind the idea.

6. Instagram ad sales to grow 5X in next two years.

“Instagram, which recently introduced “shoppable grams” with buy buttons, is on track to quintuple its ad revenues in only the next two years.”

7. IRS: We’ll Tumblr for you.

The Internal Revenue Service (IRS) recently issued a reminder to taxpayers that there’s another outlet for IRS tax tips, videos and more: Tumblr. This is the latest foray for the IRS into social media, which has been slowly building a presence on several sites (including Twitter and Facebook).

8. Instagram search arrives for web users.

Brands will be queuing up to embrace Instagram ads when they roll out across APAC, according to industry leaders, as the social network looks set to surpass Google and Twitter in mobile ad revenue.

9. How Film4 grew Pinterest followers to 600k in one year.

“In one year, Film4, the U.K.’s largest film channel, dramatically grew their audience on Pinterest – now they have more than 600,000 followers. … The secret? Creating timely content and adding adventure to their boards (and sprinkling in some drama, horror and comedy too).”

10. Are online marketplaces the future of ecommerce?

“In some ways, the digital marketplace model is ‘the end of the traditional merchant.’ Instead of depending on centralized merchandising decisions—which have their limits—the business can not only tap a world of fresh ideas, but ask the community to explain what will be popular and what won’t.”