For starters, while it's possible to upload videos to IGTV from your computer, it's apparently only possible to watch videos from within the app. With this news, all four of Facebook's key services-the main Facebook app, its two chat apps Messenger and WhatsApp, and Instagram-each have a billion or more users.
But even when advertising does become available on IGTV, which will likely happen at some point, Instagram's video offering isn't necessarily a brand safety oasis.
In his remarks, Systrom positioned IGTV as the latest step in the company's "evolution" and suggested that horizontal video is inconvenient in an era when media consumption is increasingly happening on smartphones.
Still, this new platform won't quite have the flexibility of YouTube - for example, while one hour would be more than sufficient for most content creators, it's not exactly YouTube's generous maximum time of 12 hours.
While I understand the reason IGTV videos are vertical-only (the primary focus is smartphone users), it is a bit short-sighted. A swipe left or right in the IGTV app will bring up additional content, and viewers will be able to leave comments and interact with video creators. The launch of IGTV offers the potential for an entirely new platform for Instagram ads - something that only sparks more interest in Instagram from advertisers wanting more affordable ad options.
Instagram CEO Kevin Systrom made the announcement during an event in San Francisco today, exactly five years after the company first added video to its platform. Her channel focuses on her and her fiancé, Kane Vato, traveling the world to make flawless pictures - many of which are her in a bikini - for her Instagram feed, which has 2 million followers.
Instagram just released a new feature that had been rumored for a while: long format videos. YouTube has launched YouTube Premium, a paid streaming-subscription service, and YouTube TV, a skinny bundle of live-streaming broadcast and cable channels. In addition, clips will not be limited to one minute like regular Instagram videos.
Instagram also shares how businesses, creators, and more can "leverage" the new platform, reiterating its massive user base.