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Instagram announces new IGTV app for long-form content

Instagram on Wednesday announced that it has developed a new app called IGTV. The app is aimed squarely at YouTube and other long-form video services, allowing creators to upload full-screen, vertical videos up to 1-hour in length.
Just like turning on cable TV, the IGTV app starts playing as soon as you open it, meaning there’s no need to perform a search or other on-boarding tasks. If you wish, however, a quick swipe up reveals options for discovering new videos.
Also like TV, IGTV has channels—well, creators ARE the channels. When you follow a creator on Instagram, their IGTV channel will show up in your feed. Anyone can be a creator by uploading their own videos in the app or on the web.
Instagram says that IGTV will be rolling out over the next few weeks on Android and iOS. You’ll also be able to watch IGTV content within the main Instagram app, which the company says now has over 1 billion monthly active users.
Instagram first launched in 2010, and was acquired by Facebook in 2012 for $1 billion.
Source: Instagram
UPDATE: The IGTV app is now available in the App Store for free