Last week, Instagram released IG TV. As the astute among you may have realised, that just stands for Instagram TV. `It is just the latest strategic release in the last few years, and it may be the smartest of them all. After months of promoting Instagram Stories to familiarise users with videos, they are now taking on YouTube.
Considering they have already successfully taken on Twitter, Snapchat and even Facebook itself, this is a dramatic growth. This is reflected in the fact that Bloomberg recently valued Instagram’s business at $100 billion, even if they left Facebook today. Considering they were bought as a 13-man team in 2011 for $1 billion, that makes Instagram one of the best returns on investment ever.
However, this is just the start of Instagram’s potential dominance. It already works as a pseudo e-commerce site, a native advertising platform, a millennial outreach system, and multiple other use cases. In the future, they could quite easily replace smaller mobile streaming companies such as Snapchat, YouTube, HotStar and Netflix. Facebook definitely has the money to bankroll those ambitions.
You can also listen to this video as a podcast here.