Instagram announced they will allow users to upload videos up to an hour long, a significant increase from previous one-minute limit. The Facebook-owned social media platform looks to compete with the media megalodon, YouTube, owned by Google.
These videos will be housed on IGTV, currently accessible in the top-right hand corner of the Instagram homescreen on mobile. IGTV is also available as a stand-along app on iOS and Android, featuring the most popular videos from internet celebrities.
CEO Kevin Systrom mentioned that it’s time for video to evolve and move forward. On the new platform, anyone can be a curator, not just celebrities. Currently, new and smaller accounts will not be able to upload hour-long videos. Users have the option to scroll through recommended videos, popular videos, curators they’re following, and continue watching previously started videos. Curators also have the option to add links in the descriptions of their videos to drive traffic elsewhere.
There are no ads on IGTV…yet. Instagram also isn’t paying it’s curators, unlike its parent company’s failed Facebook Watch video hub. With over 1 billion users on Instagram, IGTV certainly has leg to stand on. eMarketer predicted Instagram will earn $5.48 billion in U.S. ad revenue, without IGTV.
As younger generations are cutting the chord and looking towards various mediums to consume content, Instagram now has an opportunity to take over TV on mobile.
H/T: Tech Crunch
Photo Credit: @igtv.official/Instagram