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"Anyone can be a creator - you can upload your own IGTV videos in the app or on the web to start your own channel", Systrom said.

Mobile first: IGTV is built for how you actually use your phone: vertical and full screen.

The new video channels will be accessible directly from a button within the Instagram app when the update rolls out over the next days, but the company has also launched a stand-alone IGTV app for Android and iOS that you can download right now if you want to see what early adopters are already posting.

Instagram has launched IGTV at an event in San Francisco featuring numerous Instagram creators.

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"The magical part about IGTV is that a lot of these creators don't have to start from scratch", says Kevin Systrom, Instagram CEO, at a press event following the release of the app. Users also will have the privilege of receiving notifications from creators they are interested in. The videos will be smartphone-ready with a vertical orientation, and will be available in up to 4K resolution.

Systrom expects that eventually there will be no time limits on videos in IGTV. Smaller accounts will only be given 10-minute video limits, but Instagram did not specify the exact criteria for what qualifies an account for the longer video option.

Similar to YouTube and other video platforms, IGTV also has the concept of channels.

"Longer vertical video on Instagram makes it even easier to get closer to your audience and be discovered by new people."
The user can swipe up to explore a range of long-form videos from tabs like, "For You", "Following", and "Popular". "With Stories we're sharing so much of our life events, it would be great to share that on IGTV".