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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.

The experience is meant to be more passive — like television, Instagram says. The TV content experience brings the programming to you when you turn it on, which is different than online video, which usually requires users to go out and find the content they want to watch.

  • Unlike on Instagram, videos on IGTV aren’t limited to one minute. Instead, each video can be up to an hour long.

Between the lines: A new app means more ad inventory, and lucrative video ad inventory, for Instagram's parent company, Facebook.

Go deeper

Cold December as safety nets expire

Illustration: Sarah Grillo/Axios

Safety nets are likely to be yanked from underneath millions of vulnerable Americans in December, as the coronavirus surges.

Why it matters: Those most at risk are depending on one or more relief programs that are set to expire, right as the economic recovery becomes more fragile than it's been in months.

15 hours ago - Health

Food banks feel the strain without holiday volunteers

People wait in line at Food Bank Community Kitchen on Nov. 25 in New York City. Photo: Michael Loccisano/Getty Images for Food Bank For New York City

America's food banks are sounding the alarm during this unprecedented holiday season.

The big picture: Soup kitchens and charities, usually brimming with holiday volunteers, are getting far less help.

17 hours ago - Health

AstraZeneca CEO: "We need to do an additional study" on COVID vaccine

Photo: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

AstraZeneca CEO Pascal Soriot said on Thursday the company is likely to start a new global trial to measure how effective its coronavirus vaccine is, Bloomberg reports.

Why it matters: Following Phase 3 trials, Oxford and AstraZeneca said their vaccine was 90% effective in people who got a half dose followed by a full dose, and 62% effective in people who got two full doses.