Hoping to build on the success of short videos in Instagram Stories, the Facebook-owned social media platform announced a new app for long-form videos on Wednesday. IGTV, as the app is called, will allow creators to produce 4k videos in a vertical format that is specifically optimised for mobile viewers.
It will also allow users to produce videos longer than the current 60-second limit, which can be interpreted as a direct attack on YouTube, currently the most popular video platform for influencers and video bloggers. Although there will be no adverts on IGTV initially, said Instagram CEO Kevin Systrom that advertising is "obviously a very reasonable place to end up," adding that "there will be a way for creators to make a living," which will be essential if his company wants to lure some popular vloggers away from YouTube, where they can make a fortune.
As the chart below shows, it makes sense for Instagram to open up to long-form videos. According to data from Ooyalaa video analytics company that collects a wide range of data on video consumption on behalf of its customers, 54 per cent of all video consumption on smartphones in the first quarter of 2018 was long-form video (20+ minutes), compared to just 29 per cent two years ago.
You can find more infographics at Statista
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