Instagram to take on YouTube, plans rollout of advertisements in IGTV

Instagram currently has ads in its main feed of updates, as well as in its stories feature -- the one featuring posts that disappear after 24 hours.

Instagram plans to sell advertisements in IGTV, its home for longer videos, a bid to compete with YouTube for a larger share of the booming market for online video.

Instagram started reaching out to its top video creators on Friday, asking them to partner on ad tests. Those in the program will receive a 55% share of all advertising in IGTV, the same rate as YouTube, according to people familiar with the matter. The company will start testing the ads this spring.

“This is another step forward to help creators monetize with IGTV,” Justin Osofsky, chief operating officer of Instagram,