Longer form videos could be a significant source of revenue for the social network.
(CCM) — Instagram is putting the finishing touches on a new longer video showcase which mimics Snapchat's Discover and which will compete with YouTube, according to a Wall Street Journal report.
The new Instagram feature will provide space for scripted shows, music videos, and vertically oriented, full-screen, high definition (4K) content, according to the report.
It has provisionally been scheduled to launch on June 20, 2018, and in the meantime Instagram staff have held meetings with social media personalities and content publishers to explore the possibility of offering their channels from within Instagram.
The company has no plans to pay contributors for their content up front, and no details are yet available about advertisements that could be inserted before or in the middle of content. But each video will have a swipe-up option to open a link to the content provider's site or to e-commerce pages, the report says.
Regular Instagram users will also be able to upload videos that exceed the current 60 second maximum length, according to the report.
Instagram has over 800 million users, and by allowing original longer length videos on the service the company has the potential to earn significant sums in advertising revenues. These could dwarf the $1 billion that Facebook paid to acquire the company in 2012.
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