According to multiple reports, Instagram is launching a new video venture later today: a new hub for longer-form content that’s designed to compete with videos from YouTube creators. TechCrunch reports that the hub will be named “IGTV” and will be part of the Instagram app’s Explore tab. The videos will be vertically orientated, full-screen, up to 4K resolution, and as long as 60 minutes (instead of the current limit of 60 seconds).
There’s been talk of Instagram allowing longer videos on its platform since the beginning of June, but new reports have fleshed out those rumors. TechCrunch says that Instagram wants to attract “web celebrities” to IGTV, instead of media companies, and has been actively courting individuals to start producing content. This sounds like Instagram is positioning IGTV closer to YouTube than rival social app Snapchat’s Discover hub, which has a higher presence of content from traditional outlets like MTV, Vice, and The Daily Mail.
If Instagram can attract some of the followings that figures like Jake Paul have corralled on YouTube, it would be a boon for the app’s parent company Facebook, which has so far failed to create a notable video platform. It would also be a significant transition for Instagram, moving from social media to longer and more polished content. The opportunities for monetization would be significant.
All this is just (plausible) rumor at the moment, but we’ll find out more later today at an Instagram press event at 9AM PT. Look out for more news then.