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Facebook has introduced Video on Instagram, offering users “another way to share their stories”, according to Instagram Blog.

Kevin Systrom, Instagram co-founder, said the video is designed around three core principles: Simplicity, Beauty and Community.

“We need to do to video what we did to photos.”, said Systrom.

When users go to take a photo on Instagram, they will now see a movie camera icon. Users can tap the icon to enter video mode where they can take up to fifteen seconds of video through the Instagram camera. Users will also be able to select their favourite scene from what they have recorded as the cover image for the video.

Facebook’s and Instagram’s move is seen as an attempt to grab more online video advertising dollars. The Online Video Advertising market is growing at a a high rate. Competition is increasing. Major players include  Google’s YouTube, Twitter with its just launched TV ad product and Facebook Instagram.

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Senior Researcher/Writer, @CarovsCaroCarolina has a degree in Communications from the University of Buenos Aires, Argentina, and joined the Portada team in 2010. She is currently Editor of Portada’s Spanish-language website and print magazine. in addition, she oversees Portada’s English-language website about Latin America and also has a leading role in compiling Portada Databases. In other words, she is very busy. But she loves it! Carolina has published articles in various independent media, as well as in books and social science magazines in Argentina. Carolina enjoys reading all kind of books and watching independent movies.

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