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Instagram is getting serious about challenging YouTube.

Today, the company announced IGTV, Instagram's new initiative that lets users create standalone video channels for longform video.

IGTV is launching now as a standalone app for iOS and Android and will also be available in the main Instagram app.

Unlike YouTube, IGTV is just for full-screen, vertical videos. But like YouTube, the service is open to anyone who wants to make a dedicated channel. Users can follow channels and interact with video creators via comments.

"This is really an evolution of our mission from day one," Instagram CEO Kevin Systrom said at a press event in San Francisco. Read more...

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