Instagram plans to launch IGTV advertisement but will it keep up with YouTube?

Instagram’s IGTV service for long-form videos may not be as popular as YouTube, but the media sharing platform is working to make it more prominent amongst users by adding new features gradually. And now Instagram plans to make ‘revenue’ by adding advertisements to the videos played on IGTV.
According to Bloomberg, the company has already started contacting video creators, asking them to partner on ad tests. Through this feature, the ad partners will receive 55 percent share of the advertisement the same rate offered by YouTube. The Facebook-owned company is planning to initiate the test feature by the start of the spring season. When contacted, the chief operating officer of Instagram confirmed the news and said that they are working on ways to help creators monetize with IGTV. The COO also said that the feature will be put on test phase by a few creators before it is made generally available to all their partners.