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Instagram launches long-form video app called IGTV, rivaling YouTube

Photo by Carl Court/Getty Images

Instagram has unveiled its long-form, vertical video hub for professional creators, rivaling YouTube and, to an extent, Snapchat Discover.

Why it matters: The new app, which will exist as a tab within its regular app, is intended to be a premium outlet for video creators and is designed to make it easier to discover and watch videos on smartphones.