If I create an Intstagram post to highlight news/info about a specific brand, can I use an editorial use image showing that brand? For example, let's say Dairy Queen announces a new limited-time Blizzard flavor. Can I use an editorial image showing the Dairy Queen and/or Blizzard logos in an Instagram post letting my followers know about the new flavor?
Read the Editorial use guidelines here:
In addition to the license restrictions above, assets labeled “Editorial Use Only”:
I have seen these guidelines, but they don't answer my specific question. Is an Instagram post covered under "similar media" in that first bullet point?
Well, it allows "news blogs" but not "commercial blogs". I can't say I've ever seen what I'd call a "news blog" in Instagram. But I couldn't rule it out, if your accounts purpose - and only purpose - is to post news, rather than promote itself, or promote the products mentioned, or build a personality-based following. It's not where it is that matters, though, it's what it is. If in doubt about a license you do need advice from a specialist lawyer, because we aren't allowed to give legal advice.
As indicated by @Test Screen Name we can't give legal advise regarding licensing terms; however my interpretation of this statement would preclude you from using an editorial image on your Instagram account :
"May not be used for commercial purposes such as advertisements, promotions, endorsements, advertorials, commercial blogs, merchandise, etc."
Presumably, your Instagram account exists to advertise, promote or endorse...
Instagram is considered being social media.
Ask your lawyer for advice or use non-editorial pictures. Editorial use only pictures contain elements like logos, that make those assets unfit for advertising. If you are advertising the products represented, you may be better off by getting an asset from the company producing or marketing the product.