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Instagram just declared war on YouTube with the launch of 'IGTV'

Instagram just unveiled a new way to help it compete with the likes of YouTube and Snapchat.

On Wednesday, Instagram unveiled IGTV, a new app for publishing long-form videos on Instagram. The new app will allow creators to produce 4K vertical videos that are longer than the current limit of 60 seconds.

There will be a standalone IGTV app, as well as an IGTV experience built into the main Instagram app. The app is aimed at what Instagram calls "creators," but anyone can create and upload their own videos.

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