When Instagram launched IGTV, it quickly became seen as a YouTube competitor. While YouTube is far more powerful in comparison to Instagram, IGTV’s Facebook backing makes the platform a potentially formidable opponent.

YouTube quickly responded by offering top content providers and influencers six figure checks (and higher) in exchange for their loyalty to YouTube. Many of these influencers have already decided to stay with YouTube, according to Business Insider.

While Instagram and, in turn, Facebook may or may not respond to YouTube’s most recent move, the most important factor in the competition for this market will be the quality of each of the services. IGTV has yet to firmly establish the advantage of the platform, while also asking creators to switch to vertical video content. For more on the challenges of vertical video, check out our last post on Chloe Blog!