Instagram launched a new center for long-form video, the company's latest attempt to take advantage of the growing demand among consumers and advertisers of mobile video.
The new center, called IGTV, is both an independent application and a section of Instagram's main application that will allow users to post high-definition videos. Some of the most influential "creators" of the platform are already programmed to create content for the function, including
an actress and model that has 25.2 million followers.
The content of IGTV is varied. At a press demonstration on Wednesday, Instagram executives showed videos with wildlife explorers and amateur chefs.
Each of the billion active monthly users of Instagram can watch the video by pbading a section of the application.
IGTV es focuses on vertical videos, videos that are taller than they are wide, destined to be consumed by users who keep their phones upright.
IGTV will initially not include ads and the company is not paying the creators directly to use the feature. But Instagram CEO
He said he hopes the company will eventually introduce ads and potentially provide a portion of that revenue to creators who post on the site.
"It's obviously a very reasonable place to finish," Systrom said during a press conference. "And if we end up in that place, which we believe we will, there will obviously be a way for creators to earn a living."
By increasing the duration and quality of the video on Instagram, the social network image exchange network may be trying to access the multimillion dollar television advertising market. So far, marketers have been slow to change their television budgets to new video formats, but the initial expense of digital advertising is increasing.
With the launch of IGTV, Instagram seems ready to compete with other technology platforms, such as Snapchat and YouTube, have hosted videos of high profile individuals and media organizations for years.
Snapchat launched Snapchat Discover in 2015, a feature that allows publishers such as National Geographic, Vice and Cosmopolitan to upload multimedia "stories" daily. YouTube launched YouTube Premium, a paid streaming subscription service, and YouTube TV, a thin pack of live streaming and cable channels.
Instagram was founded in 2010 as a photo sharing service by Mr. Systrom and his graduate partner from Stanford University
Built as an application for the iPhone, it grew rapidly as users gravitated to their new filters, which transformed the appearance of the photos.
Facebook acquired Instagram for approximately $ 1 billion in 2012. The Instagram feed also has advertiser publications.
IGTV comes approximately two years after the launch of Instagram Stories, a feature that allows users to share photos and multiple short videos of up to 15 seconds, uploaded in a 24-hour period.
Instagram also announced on Wednesday that it reached 1 billion monthly users. With this news, the four key Facebook services – the main Facebook application, its two chat applications, Messenger and WhatsApp, and Instagram – each have one billion or more users.