Just the other week, Instagram announced that IGTV previews would now appear in the regular Instagram feed, along with videos being shared to Instagram profile pages.
Since then, views on IGTV videos have skyrocketed across the board, increasing by c.300-1000%.
Benjamin Chacon’s point about monetisation in his Later article is key. YouTube rewards creators with $3-10 per 1,000 views – so in my opinion, that provides a massive opportunity for Instagram and brands in the short- to mid-term.
It’s a win-win-win
IG creators get compensated to test long-form content creation, without the difficulty of migrating their IG audience to YouTube, whilst getting compensated accordingly for creation of content, not pre-roll.
Users benefit from having a native consumption experience (no jarring pre-roll) and will ultimately dictate with their ‘attention’ what content wins and loses at this early stage. Brands benefit from short-term access to cost-effective audiences that are not accessible on YouTube, as Instagram inevitably will promote getting eyeballs to IGTV.
It won’t be this way forever, once Instagram can prove the viewing and engagement numbers, they’ll then be able to show IGTV as an alternative to YouTube. They will undoubtedly look at monetisation from their platform for creators.