Instagram is planning yet another major push for video, and is set to hold a press event on June 20 to unveil their latest plans.
The social media giant, first popularized for its easy sharing of photos, is rumored to be launching a video hub dedicated to long-form content, according to a report from TechCrunch. The hub will serve as a home for higher-quality vertical-first videos, and sources tell TechCrunch that the hub will feature “scripted shows, music videos, and more” with support for up to 4K resolution. The platform has also been meeting with popular social media influencers and content publishers in an effort to persuade them into bringing their content to Instagram.
With the launch, all Instagram users will reportedly be able to upload videos up to 60 minutes in length. It’s not clear if the video hub will be a part of the existing Instagram app, or a potentially separate app altogether.
This initiative would allow Instagram to compete with both YouTube and Snapchat Discover – the latter of which is already experiencing slowed growth and user apprehension, due in part to the popularization of Instagram’s own Stories feature.
Instagram plans to let creators earn ad revenue from their content, but they don’t have a plan in place quite yet. The platform won’t be offering any up-front signing bonuses to creators coming on board, either. Videos will feature a swipe-up option, similar to what currently exists on Instagram Stories, allowing creators to drive traffic off-platform to sell merch or promote their other social media sites.
Invitations went out to members of the media earlier this morning for a “special event” on June 20 in San Francisco. The invite was vague: “Instagram has some news to share, and we want you to be the first to hear about it,” the company wrote.