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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

53 mins ago - Health

Moderna says vaccine appears to protect against new COVID-19 variants

Photo: Justin Tallis/AFP via Getty Images

Moderna's COVID-19 vaccine is effective against new variants of the virus that first appeared in the U.K. and in South Africa, the company announced on Monday.

Yes, but: The vaccine was as effective against the strain from U.K., but saw a six-fold reduction in antibodies against the South Africa variant. Even still, the neutralizing antibodies generated by the vaccine "remain above levels that are expected to be protective," according to the company.

Dave Lawler, author of World
Updated 58 mins ago - World

Xi Jinping warns against "new cold war" in Davos speech

Chinese President Xi Jinping. Photo: Wang Zhao - Pool/Getty Images

Chinese President Xi Jinping warned that a "new cold war" could turn hot, and must be avoided, in a speech on Monday at World Economic Forum’s virtual “Davos Agenda” conference.

Why it matters: Xi didn't refer directly to U.S.-China tensions, but the subtext was clear. These were his first remarks to an international audience since the inauguration of President Biden, whose administration has already concurred with Donald Trump's determination that China is committing "genocide" against Uyghur Muslims, and issued a warning about China's aggression toward Taiwan.

Updated 2 hours ago - Politics & Policy

Dominion files $1.3 billion defamation lawsuit against Rudy Giuliani

Photo: Rey Del Rio/Getty Images

Dominion Voting Systems filed a defamation lawsuit against Rudy Giuliani on Monday seeking $1.3 billion in damages for his "demonstrably false” allegations about the company's voting machines.

Why it matters: Giuliani led former President Trump's efforts to overturn the results of the election and spread the baseless conspiracy theory that Dominion's voting machines flipped votes from Trump to Joe Biden.