Instagram has reached a major new milestone: 1 billion users. The company is calling the app as "a new app for watching long-form, vertical video from your favourite Instagram creators." .
It will give Facebook more opportunities to sell advertising. Viewing the videos is also possible within the Instagram app as well. First, there are now 1 billion people using the app.
"Video is the way we hang out with friends and pass the time, but how we watch it is changing", Systrom said.
Instagram has launched IGTV at an event in San Francisco featuring numerous Instagram creators. Some accounts may be limited to 10-minute long videos during the first few weeks of the launch, but then everyone will be able to upload one-hour long videos, and perhaps even longer in the future. IGTV is different in a few ways. Instagram users can update the app in order to begin watching IGTV videos today.
Facebook Inc.'s FB 2.28% Instagram launched a new hub for long-form video, the company's latest attempt to tap into growing demand among consumers and advertisers for mobile video. We made it simple, too.
Users can access IGTV via the original Instagram app, but also through a standalone app starting next week. YouTube has launched YouTube Premium, a paid streaming-subscription service, and YouTube TV, a skinny bundle of live-streaming broadcast and cable channels.
Like YouTube, IGTV will focus its spotlight on its brightest stars allowing you to uncover new channels and personas that appeal to your specific interests.
"We have a very engaged community who tune into our Stories", Leung says, referring to the vertical video format already available on the main Instagram app.
"Younger audiences are spending more time with amateur content creators and less time with professionals", Instagram said in a blog post.
The Instagram effort is most similar to what Snap Inc. has done with the Discover section of Snapchat.