Ever since Facebook's $1 billion acquisition of Instagram, the search for the next "Instagram of [insert app category here]" has been on. One area many pundits have focused on in this context is video and according to the latest data from mobile app analytics company Flurry, that's probably not a bad bet. Video & Photo is now the fastest growing mobile app category across the major mobile platforms. The time spent on photo and video apps per active user increased 89% to 231 minutes per month between October 2011 and March 2012 and a massive 166% since July 2011.
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