Instagram’s rumored dive into video is official: and they’re giving users 15 seconds to work with (3-to-15, to be exact).  Also, you can use 1 of 13 special filters on the video.  Made available to all iOS and Android users (a total of about 130 million) as a free update, Instagram definitely wants to put the hurt on Vine with all the options they’re throwing out there.  As we mentioned earlier, Vine had already wisely begun tinkering with their app in anticipation of Instagram’s announcement today.  Now the question is, can Vine continue to grow when 130 million Instagram users just got a huge, free upgrade?

Instagram’s New Video Features

You can edit these videos to fit the 15-second limit, and if any clip you add to the “timeline” is unsatisfactory, you can simply delete it with the click of a button.

Here’s what The Verge found when they tested it out:

One thing that I found pretty great with this demonstration is that Instagram users will be able to create a “cover photo” for their video by finding the best frame of the video and using it as an attractive “click me” feature.  In other words, a thumbnail.

After you’ve applied filters and found a cover photo, the usual sharing features: captions, hashtags, and whatever can be applied to the video.

Videos also will not loop on Instagram’s video feature like Vine.

So, now the question is: can Vine respond?  Will this totally stall their momentum?  It all comes down to the features, now.  That’s why competition is great.