For the longest time ever, YouTube has been considered the de facto platform for online videos. To a certain extent that is true, but thanks to streaming services, there are many options now available to users. In fact Instagram has recently tossed their hat into the ring by launching IGTV.
In fact it seems Instagram’s foray into the long-form video has gotten YouTube worried to the point where they are launching deals with some of its biggest stars to keep them on its platform. This is according to a report from Business Insider (paywall; via PhoneArena) in which YouTube is apparently trying to sign 5-7 figure deals with some of its stars, as long as they agree that YouTube will get first dibs when it comes to distributing their content.
This would not be the first time that YouTube has struck up deals with its creators. The company has worked with several of its top creators in the past and launching new and original series with them. YouTube also launched YouTube Red which is a way for creators to create original content that would be made available to subscribers.
However we suppose it’s not surprising that YouTube could be feeling the heat from the competition. After all Instagram is home to 500 million daily active users, plus it also has the backing and resources of Facebook.