Yesterday Instagram confirmed the internet's worst kept secret: it will now offer video functionality. 

Insta-vid?

Instagram's CEO Kevin Systrom made the announcement at a press conference held at Facebook's headquarters yesterday. 

The new feature is dubbed “Video on Instagram” and lets users create 15 second videos that can be enhanced with 13 filters created specifically for video.

Video on Instagram also includes basic editing capabilities, image stabilisation and can be shared socially. 

Roll out

Video on Instagram is being rolled out to all iOS and Android users today, in a move that will likely see the reach of the app increase.

Systom said that Instagram currently has 130 million monthly users and 1 billion likes are registered every day.

Vine killer?

The big question is how this will impact on Vine, Twitter's official video app which recently surpassed Instagram on Twitter for most shared content.

In a bid to steal some of Instagram's thunder, Vine has announced a range of new features. 

Are Instagram's self-styled photographers ready to become cinematographers, or simply post looping videos of cats and breakfast dishes? 

We'll have to wait and see. But you can bet adding video won't hurt Instagram when it eventually expands its ad offering.  

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