Instagram is sending out invites to the media for a special event scheduled to take place on June 20. There is no description of the event and the invite just mentions that it is a “special event” where “Instagram has some news to share”. According to a report by TechCrunch, this invite aligns perfectly with previous reports about Instagram planning to launch long-form videos as part of its Video hub to take on YouTube and Snapchat.
According to the report, Instagram will allow creators to upload videos with up to 4K resolution that will play in full screen while remaining vertically oriented. These videos will be much longer than the current videos that are limited to 60 seconds and they will be available in a “centralized hub” with curated sections such as “Popular videos”. Users will also get the option to continue watching videos that they started and couldn’t finish. There is no information available on if the company will launch a separate app centered around the long-form video or launch a separate section within the existing Instagram app.
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The platform has met with a number of social media start-ups and media product houses that produce content for the platform as its “launch partners”. As previously reported, Instagram is not aiming to mimic HBO or Netflix when it comes to the quality of content available.
Instagram has not finalized on how it will monetize the platform. It does plan to introduce monetization eventually along with advertisements but for the time being, there will be no ads. The platform will also allow creators to drive traffic to their other social media handles, websites or merchandise stores. It is also likely that the company will announce that it has hit 1 billion users at the event. The last time information was made available in 2017, Instagram has 800 million users.