With IGTV, Instagram Takes Aim at YouTube
Currently, Instagram has more than 1 billion monthly active users
Since its 2012 acquisition by Facebook, Instagram has grown to more than five times the size of Snapchat. Now, it’s coming after YouTube.
At a food-and-influencer-filled event in San Francisco on Wednesday, the company announced a new app for long-form video called IGTV, which will also exist as a tab within Instagram’s existing app. Underscoring just how many people are obsessively spending time on Instagram these days, co-founder Kevin Systrom also revealed that the app now has more than 1 billion monthly active users.
Instagram’s push into longer videos was widely expected, and had been reported before by TechCrunch. And the company scooped itself Wednesday when it pushed out the IGTV announcement before the event, which was delayed by an hour, had even kicked off.
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