Instagram has more than a billion users

Systrom also revealed on Wednesday that Instagram now has 1 billion monthly active users - up from 800 million users last September.

The move will put Instagram's content in competition with YouTube, which uses programs like YouTube Creators to support its community of video makers. Once you post a video, you can also post it to Facebook simultaneously. Facebook, still reeling from the fallout of the Cambridge Analytica scandal, likely would not enjoy reliving YouTube's nightmare, so it will be interesting to see how IGTV addresses numerous same issues that have sparked on YouTube over the years, since apparently that's the kind of content, and the sort of creators, it's trying to court. The video section will feature content from people users already follow on their account, Instagram said Wednesday.

When users open the app, IGTV starts playing immediately.

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Instagram's new video service app is aimed directly at YouTube which will allow creators to upload full-screen videos up to 1-hour in length.

A dedicated IGTV mobile app will be made available for both iOS and Android - Instagram says it will be slowly rolled out "over the next few weeks". This is a major accomplishment - so from all of us at Instagram, thank you! YouTube has launched YouTube Premium, a paid streaming-subscription service, and YouTube TV, a skinny bundle of live-streaming broadcast and cable channels.

Overall, I like what I've seen in the short time I've been using IGTV. IGTV is a brand new social platform which is oriented towards bridging the "audiences closer to the creators they love". You don't have to search or browse to get started, and it's easy to multitask.

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Stories have become wildly popular on Instagram, and the amount of people publishing stories has eclipsed Snapchat's entire userbase.

The Instagram app is loosening its restraints on video with a new channel that will attempt to lure younger viewers.

IGTV seems to be great for those enjoying Instagram Stories but want to make longer formats or people who'd like to vlog or publish videos while taking advantage of their Instagram following base.

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"We believe this is a smart strategy and a clear shot across the bow at YouTube and looking to court content from that platform", Daniel Ives, an analyst at GBH Insights told Quartz.

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