Instagram said on Wednesday it now has more than one billion active users, as it unveiled a new long-form video feature in a bid to attract "creators" like those on YouTube.
Instagram chief executive Kevin Systrom announced the milestone in San Francisco as he unveiled the new video application known as IGTV.
It will allow users to post videos up to an hours' length instead of the current one minute limit.
Instagram becomes the fourth Facebook platform to hit the billion-user mark, including the namesake's social network with more than two billion users, and the messaging applications WhatsApp and Messenger.
It has been outpacing rival social networks such as Twitter and Snapchat and has been gaining younger users even as Facebook itself has seen declines in the youth segment.
"We have now a community of one billion users," Systrom said at the IGTV launch event in the US.
"Since our launch in 2010, we've watched with amazement as the community has flourished and grown."
As Facebook itself has moved deeper into video, Instagram will become a direct competitor to YouTube with IGTV.
IGTV will enable any user to upload long-form videos and will also include "channels" from video "creators," similar to a format employed by Google-owned YouTube which has given rise to a number of YouTube "stars."
"Anyone can be a creator – you can upload your own IGTV videos in the app or on the web to start your own channel," Systrom said.
Built for smartphones
Systrom said IGTV is built to be used on a smartphone, and boosts the time for videos from the previous limit of one minute.
"The way we are watching video is changing," Systrom told the event.
He added that IGTV is "built for how you actually use your phone, so videos are full screen and vertical."
The launch comes amid a shift in video viewing habits away from traditional television to online platforms including Netflix and Hulu, and with more people watching both professional and user content on services like YouTube.
According to the research firm eMarketer, 181.7 million Americans will watch video content on their smartphones at least once a month this year, up 6.1 per cent from a year ago.
logos of the Snapchat, Facebook, Twitter, Messenger, Instagram and LinkedIn applications are displayed on the screen of an Apple iPhone. Source: Getty Images
Product manager Ashley Yuki told the event that IGTV "is an open platform from day one, so everyone can become a creator."
Rolling out for the iOS and Android apps, IGTV will allow any user to upload videos up to 10 minutes long, with the limit for larger accounts at one hour.
Systrom described the new app as "a separate space, a dedicated space to enjoy video without being distracted."
Facebook acquired Instagram in April 2012 for a combination of cash and stock worth some US$1 billion at the time.
Since then it has become a strong engineer of growth for Facebook in terms of users and ad revenues.
While Facebook offers no detailed revenue breakdown, eMarketer estimates Instagram will generate US$5.48 billion in net US ad revenue this year, up 70.4 per cent from last year and accounting for more than one-fourth of Facebook's net mobile ad revenue.
Facebook itself is also ramping up its video offerings with original shows and this week announced new formats including interactive game shows, quizzes and polls.
