Sharing that information means, of course, that your content and information could end up in ads. And before you ask, no, you will not get compensated for your artwork.
The Twittersphere reflected the global outrage over this ToS change, which will go in effect on January 16 and analysts are already discussing the possible end of Instagram. In fact, Instagram may have shot itself in the foot with a monetization model that is well beyond the comfort level even of those you are willing to share their private life with the world.
The most aggressive rules state that underage users are not exempt from the ToS change and Instagram admits that ads may not necessarily marked as ads, which opens the door to abuse of content. The only way to protect yourself from Instagram's monetization bonanza is to delete your account.
Of course, if you have thought about your participation in Instagram before, you could have guessed that Burbn, the publisher of the software, was not in the welfare business and even if the new owner Facebook offers free access to its social network, the company has to generate money to pay employees and the free ride we have come to expect has to end at some point. The Instagram case is just one example, even if it is a pretty aggressive one.