On Wednesday, 20th June 2018, Instagram, the photo and short video sharing platform launched another app, called Instagram TV. The purpose of this new app is to allow creators to upload a video which is 1-hour longer.
According to CEO Kevin Systrom (Instagram), it’s time for evolution in the video world. They created IGTV with an idea in mind that people should be able to watch long-duration videos from their favorite Instagramers.
How does this new application works?
The benefit of IGTV is that it allows anyone to become a creator, not just celebrities. People can only upload vertical videos through IGTV. The disadvantage for smaller or new accounts is that they can’t upload 1-hour duration videos. This feature will be available only for popular accounts.
The app is available globally on two operating systems: IOS and Android. Within the app, viewers will be able to browse through a variety of videos, created by the creators they are following or not following. Users will also get notifications from IGTV when a new video is posted by the creators they are following.
No Commercials YET!
Currently, IGTV is not allowing any type of commercials or post boosting. However, the CEO mentioned during the launch even speech, the company will develop a way to monetize content, created by the creators in the future. Creators are also no being paid by Instagram for any videos created like Facebook tried doing it to jump-start its flopped Facebook Watch video hub.
Comparing to September 2017, when Instagram reported 800 million users, today, Instagram’s user based is approximately 1 billion users. IGTV has the possibility to become popular with creators for not only trying to make an income from this platform but also to grow their audience. It is expected that Instagram will be going to develop a monetization option for IGTV creators, including ad revenue shares.
Advertiser’s attention can also be caught due to the big user base. Marketing analysts are already predicting that Instagram can earn around $5.48 billion in U.S ad revenue in 2018. Just because of this prediction, Facebook’s share price is up over 2.2%.
As we are observing a trend, where teenagers are quitting television for online video platforms like Netflix, Twitch, etc., IGTV has an opportunity to become the next TV for mobile devices. Youtube may still remain the bigger brand in video content industry but IGTV, with a suitable strategy, has a chance of giving competition to Youtube when it comes to mobile applications.
With the launch of this new application, it gives us (Digital IMC), a new platform to explore and help our clients to grow their business. We always believe that more online marketing platforms result in producing better results for our clients.
We are a digital marketing agency, which is already dominating when it comes to Facebook Ads and Google AdWords. Along with ads, we also provide services like Search Engine Optimization, Search Engine Marketing, Marketing Consulting and Design-and-Development.