Marketers are always looking for "the next big thing," and if you're reading this article anywhere near the date it was first posted (June 26th, 2018) you're most likely feeling that IGTV (Instagram TV) could be that new "thing."
What Is IGTV?
During an event on June 20th, Instagram announced that they would be supporting video uploads of up to 1 hour. This is up from the previously supported 1 minute upload.
Also, Instagram created a separate app for people to watch videos and manage their new IGTV channels.
“It’s time for video to move forward, and evolve,” said Instagram CEO Kevin Systrom during the reveal of the new platform.
I'm 100% sold on the platform (as are hundreds of fortune 500 companies). Here is why...
Reason #1 Video Is the Future (and the Present)
Although I'm a sucker for the written word (hence, this blog's existence) most content consumers are favoring video and the trend isn't slowing down.
Here are some stats for you to chew on...
Video Posts on Facebook have 135% greater organic reach than photo posts. (Social Media Today)
Social video generates 1200% more shares than text and images combined. (Small Biz Trends)
By 2019, global consumer internet video traffic will account for 80% of all consumer internet traffic. (Small Biz Trends)
The bottom line is that consumers LOVE videos and they clearly lead to sales. Until recently, Instagram wasn't extremely video friendly, limiting their uploads to just 1 minute.
Reason #2 Instagram Growth Is Easier Than YouTube
Gaining followers on Instagram is much easier than gaining subscribers on YouTube.
I don't have data for this. If you have a presence on both platforms, you already know this is the case.
If you have a large Instagram following, your IGTV channel is going to link directly to those same followers!
Reason #3 Instagram Has the Money to Compete with YouTube
Youtube is the #2 search engine in the world, only behind Google. Instagram has a long way to go to compete with them head to head BUT they certainly have the budget to do it and the fact that they've created a separate app for IGTV already shows that they are very serious about giving YouTube a run for their money.