CNBC: Instagram crosses 1 billion monthly active users, unveils long-form video

A recent CNBC article announced that Instagram now has 1 billion monthly active users, up from 800 million users reported in September. Due to the large audience, the social media platform continues to evolve to challenge other social sharing platforms such as Snapchat and YouTube. Instagram co-founder and CEO Kevin Systrom recently announced the rollout of IGTV, a video hub that will be launched by creators and influencers on the platform.

On IGTV, videos can be up to 60 seconds long and will be formatted for mobile consumption. Shows created on IGTV will be curated into channels, similar to Snapchat's discover feature. The hub will be a space for all users but is intended to further establish the app's influencer community.

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