The main problem is that you did not form a valid string literal. Note that PHP supports both single- and double-quoted string literals, and you may use that to your advantage:
preg_match('~"instapp:owner_user_id" content="([^"]*)"~', $html, $match);
While it is OK to use paired (...) symbols as regex delimiters, I'd suggest using a more conventional / or ~/@ symbols.
Also, (.*) is a too generic pattern that may match more than you need since . also matches " and * is a greedy modifier, a negated character class is better, ([^"]*)  - 0+ chars other than ".
HOWEVER, to parse HTML in PHP, you may use a DOM parser, like DOMDocument.
Here is a sample to get all meta tags that have content attribute and extracting the value of that attribute and saving in an array:
$html = "<html><head><meta property=\"al:ios:url\" content=\"instagram://media?id=1329656989202933577\" /></head><body><span/></body></html>";
$dom = new DOMDocument('1.0', 'UTF-8');
$dom->loadHTML($html, LIBXML_HTML_NOIMPLIED | LIBXML_HTML_NODEFDTD);
$xpath = new DOMXPath($dom);
$metas = $xpath->query('//meta[@content]');
$res = array();
foreach($metas as $m) { 
   array_push($res, $m->getAttribute('content'));
}
print_r($res);
See the PHP demo
And to only get the id in the content attribute value of a meta tag whose property attribute is equal to al:ios:url, use
$xpath = new DOMXPath($dom);
$metas = $xpath->query('//meta[@property="al:ios:url"]');
$id = "";
if (preg_match('~[?&]id=(\d+)~', $metas->item(0)->getAttribute('content'), $match))
{
    $id = $match[1];
}
See another PHP demo