Facebook Co-Founder and CEO Mark Zuckerberg called out Instagram and its new Video on Instagram offering during the social network’s second-quarter earnings call Wednesday.
During his opening remarks, he said:
Next, let’s talk about building more useful services on the path to understanding the world. The newest product I’m most excited about from our last quarter is Instagram video.
Adding video fits really naturally with the Instagram mission of capturing and sharing the world’s moments, and it’s off to a great start.
People are already uploading hours of video to Instagram every minute. I’m really proud of the team, and I think they did a great job with this product.
When I first talked to (Instagram Co-Founder and CEO) Kevin (Systrom) about this, he had a really smart insight. Instagram has been about helping people capture moments in a way they’re proud of. Filters were necessary for photos, because when Instagram started, most phone cameras weren’t good enough to take high-quality photos, but lack of filters isn’t what’s holding back videos from being great — it’s that they’re shaky and feel unprofessional. Kevin realized that if we could deliver a product that helped people produce stable videos, that would really change the landscape, and I think it already is.
Later in the call, in response to a question about monetizing Instagram, Zuckerberg added:
Kevin has always been clear that we’re building Instagram to be a business, and we expect that over time, we’re going to generate a lot of profit from it, probably through advertising. Now, that all said, right now, it’s just growing so quickly. I mean, the number that we’ve just said was 130 million monthly actives, (and the) video product is growing really quickly.
There are so many directions to expand this in that we think that the right focus for now is to continue just focusing on increasing the footprint of Instagram, and when the right time comes, we’ll think about doing advertising, as well, and I think that’s going to be a really big opportunity.
Readers: How do you think Facebook will eventually be able to work ads into Instagram?