Hoping for another win on the back of Instagram Stories, Facebook-owned Instagram launched a new video app IGTV. Which will allow you to watch long-form, vertical 4k video from your favorite Instagram creators.

No longer limited to 60 seconds, you can now connect with your favorite influencers and video bloggers on instagram. While this is being interpreted as a direct attack on YouTube, there won’t be any ads on IGTV to start with, but advertising “is obviously a very reasonable place to end up”, adding that “there will be a way for creators to make a living”, according to Instagram CEO Kevin Systrom.

As the following chart illustrates, it makes sense for Instagram to open up to long-form video. According to data from Ooyala, a video analytics firm collecting a ton of video consumption data on behalf of its customers, long-form video (20+ minutes) accounted for 54 percent of total video consumption on smartphones in the first quarter of 2018, up from just 29 percent two years ago.

You will find more infographics at Statista