Instagram Launches New Video App
Instagram has rolled out IGTV, a new app specifically for long-form, vertical video. Everyone who has an Instagram account can start uploading and watching videos right away. The new features can be accessed through the new app or by clicking a new IGTV icon on the existing Instagram app.
According to Instagram CEO Kevin Systrom, teens are watching less TV, but they’re watching more video on Instagram than ever before. Users under the age of 25 now spend more than 32 minutes each day on the platform, while users age 25 and older use the app for more than 24 minutes. Instagram recently announced that it has 1 billion users, an attractive prospect for content creators.
The company says that anyone will be able to post to IGTV. Instagram users with fewer than 10,000 followers can post up to 10 minutes of video. Users with more followers than that will be able to post videos up to an hour long. Video posts on Instagram were previously capped at 60 seconds. According to reports, Kim Kardashian West and Selena Gomez will be among the first to upload longer-form videos to their accounts.
It is unclear how Instagram plans to pay creators for their content. Since the ad-based revenue model is an industry standard, it would make sense for Instagram to adopt it down the road. However, a spokesperson said, “Ads will not be part of IGTV at launch, but we’ll be exploring and test ways to help creators monetize after launch.”
If Instagram wants creators to publish their content on IGTV, it has to pay them. Facebook has giant reach, but most creators don’t spend much time there because they don’t earn any money there. Vine never paid creators, so they left, and Vine went under. YouTube does pay its content partners and has earned the loyalty of many of the most popular content creators.