According to a new report by the Digital Luxury Group, the photography-based social network is beating Facebook for engagement.

Luxury watch brands gathered 3.4 million followers on Instagram, while FB dwarfs that with 69 million fans. However, it turns out that it’s not just a question of how big your following is, it’s also about what you can do with it.

In fact, it’s all about the engagement rate (a figure created from the total likes, comments and shares on a day, divided by the number of followers and then mulitiplied by 100). And Instagram is beating out Facebook, with nearly three times the average engagement rate for watch brands.

And even on Instagram, it’s not necessarily about being the biggest: Swiss watchmaker Audemars Piguet tops the tables when it comes to engagement with a 5.7 percent rating (compared with an average of 1.77%) but is only the fifth most popular brand in terms of followers.

Hublot is currently the most popular brand on the platform with around 154,000 instagram followers, followed by Chopard at around 118,000.

International watch salon Baselworld 2014 takes place March 27 to April 3.