>> Instagram, Facebook's photo sharing app, hugely popular among teens and millennials, now brings you long-form video, and don't let anyone tell you video should be shot horizontally. Instagram's new IGTV brings you vertical video.>> Teens are now watching 40% less TV than they did five years ago. And on Instagram, people are watching 60% more video in just the last year.
And it's time for video to move forward and to evolve.>> A new app will be released in the coming days. And users can also update the existing Instagram app to access IGTV in a separate tab. The video on the platform is uploaded by users as well as rising social media stars and artists around the world.
Some of them brought to the San Francisco event on Wednesday, Reuters correspondent, David Ingram, was there.>> This is where the advertising money is, advertising money really, for decades, has been in television. And advertising money has been moving over to the internet. But advertisers are always a little unsure where to put their ads on the internet.
The best, safest place for them, they think, is premium video. And YouTube sees that, Facebook sees that. Now Instagram is trying to get into that same game.>> Facebook bought instagram in 2012 for $1 billion, and now has more than a billion monthly users. The foray into long form video comes as Facebook vows to make it's social media platform less addictive and more meaningful.
>> You gotta take care of the pasta, like it's one of your children. Do you have children?>> Now viewers can tune into their phones and be the judge on that.