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will start displaying adverts in profile feeds and on the Explore home page, its parent company Meta has The new advertising spaces are reportedly being launched in a bid to combat the platform's declining revenues.

According to

In Tuesday's announcement, 's company also listed other updates to its advertising products, like the addition of augmented reality to Instagram.

It said: 'We're investing in a discovery ecosystem that generates connection with customers, demand for products and interest in brands.

'To help businesses tell their story and reach new customers, we're launching new and formats on Instagram.'

Instagram will start displaying adverts in profile feeds and on the Explore home page, its parent company Meta has revealed .

The new advertising spaces are reportedly in a bid to reverse declining revenue that the has been experiencing 

The Explore home page of the app is the grid users see when they first click on the magnifying glass icon to enter the 'Explore' tab (left). While the profile feed is the feed of content produced after clicking on a post on someone's profile ( right)