Hoping to build on the success of short-form videos on 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 specifically optimised for mobile viewers.
It will also allow users to produce videos longer than the current limit of 60 seconds, 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 advertising on IGTV initially, he said Instagram CEO Kevin Systrom stated that advertising is „obviously a very sensible place to end up,“ adding that „there will be a way for the creators to make a living,“ which will be essential if his company is to lure some popular vloggers away from YouTube, where they can earn a fortune.
As the following graph shows, it makes sense for Instagram to open up to long-form videos. According to data from Ooyala, a video analytics company that collects a variety of data on video consumption on behalf of its clients, found that smartphones accounted for 54 percent of all long-form video (20+ minutes) consumption in Q1 2018, up from just 29 percent two years prior.
Further infographics can be found at Statista
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