Can IGTV compete with YouTube and Snapchat?

By Anika | The 1 Thing

Jun 26

Instagram has released a new video app on its platform called IGTV, short for Instagram Television.

You’ll notice the new icon in the top-right corner when logging into your Instagram account, when you tap on the icon you’ll immediately be directed to a new screen where you’ll see auto-play videos from channels you already follow.

instagram-IGTV-create-channelAnyone can create an IGTV account which allows users to post 4k vertical video content of up to an hour long (the previous limit was 60 seconds). Initially,  everyone will be able to post videos for up to 10 minutes long, users or influencers with more followers will be able to post videos for up to 1 hour long, but these limits are only temporary.

creating-instagram-IGTV-account

Instagram has now reached 1 billion active monthly users, 500 million daily active users and is said to be the fastest growing social app at the moment, so the new video app addition could be a game-changer.

Let’s look at some statistics

  • YouTube has 1 billion active monthly users
  • Snapchat 300 million active monthly users
  • Instagram has 1 billion active monthly users
  • 9% of small businesses use YouTube
  • Over 80% of users on Instagram follow a business
  • 45% of Snapchat users are between the ages of 18 – 24
  • 11% of YouTube users are between the ages of 18 – 24
  • 31% of Instagram users are between the ages of 18 – 24
  • 30% of Instagram users are between the ages of 25 – 34

Why should you care?

Instagram’s popularity and continued growth is credited to its addition of new features such as Stories, filters, shopping, stickers and now a video channel. All these features make it easier for users to stay on the app to continue browsing, watching, sharing and shopping.

When we have a look at some of the statistics, we’ve noticed that the majority of Instagram users are between the ages of 18 – 34, they like shopping, enjoy video content, and of course, are on their mobile phones. In fact, 53% of teens say Instagram is the best platform to learn about new products and are following celebrities and influencers who are promoting these products.

Our conclusion is that if your target audience is Generation Z or even Millenials and you are a B2C business, then using IGTV in your marketing mix is a definite must.

Posting video content has become one of the most popular forms of content consumption and with Instagram’s new video platform, this is sure one of the most interesting and fastest growing social apps that businesses need to consider using today.

We’ll definitely be using IGTV, so go ahead and start following us so you can stay up to date with all of our latest 1 Thing news items every week.

Sources:

http://www.businessinsider.com

https://www.searchenginejournal.com

YouTube by the Numbers: Stats, Demographics & Fun Facts

https://www.spredfast.com

https://www.disruptiveadvertising.com

https://www.statista.com

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