Instagram Releases IGTV: Possible YouTube Killer
Instagram just released a new app called IGTV, a new initiative that seems to be the first promising competitor to YouTube. Here at McNair Media, we have already been playing with the functionality of this new Instagram service and have some exciting thoughts to share.
A possible YouTube alternative
Unlike other initiatives that Facebook, the parent company, attempted in the past, Instagram’s IGTV seems to have all of the right components to become a possible YouTube alternative in the future. There are a few key things that help set IGTV up for success.
Long form video
Just like YouTube, IGTV supports long-form video up to an hour (which will apparently go to a near limitless length in the future). Its initial rollout is currently supporting up to 10 minutes for newer/smaller Instagram accounts, but it is expected that the one hour limit will be extended to all channels in the future.
IGTV video content is accessible through the main Instagram app, but Instagram also created a standalone app. This provides two things, easy set up and management for content creators and a simple "binge-able" way to watch videos for viewers.
The big question that always comes up with a new video platform is monetization. YouTube provides monetization to its content creators (granted, there has been a lot of controversy recently around creator monetization). While nothing specific has been announced, ad creation tools for bumper and mid-stream ads have been popping up in the backend of the Facebook Ad Manager, which is how advertisers like us can create ads for Facebook or Instagram. The head of Instagram has also alluded to a possible future of monetization for creators.
Natural Progression for Instagram
Video has become increasingly popular on Instagram, from the standard feed to Instagram Stories. One of McNair Media’s local news outlets, ClevelandTNNews.com, has seen a lot of success on Instagram with video. Our clients have also experienced phenomenal success with Instagram video, with substantially higher conversions then what we have seen on Facebook.
Check it Out
If you haven’t checked out IGTV yet, go to the Cleveland TN News Instagram page for an example video on IGTV. This news outlet has a daily news show called Breaking in Bradley, which is now on IGTV and YouTube.
We really see the potential of IGTV and believe that many brands will benefit to start creating original content for the platform. If you’re interested in learning how McNair Media can assist you in your video production needs, contact us today!