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Instagram Unveils New Video Service in Challenge to YouTube

Facebook's Instagram app is loosening its restraints on video in an attempt to lure younger viewers away from YouTube. The expansion announced Wednesday, dubbed IGTV, will increase Instagram's video time limit from one minute to 10 minutes for most users. Accounts with large audiences will be able to distribute programs lasting up to an hour. The videos will be available through Instagram or a new app called IGTV. It will give Facebook more opportunities to sell advertising. It's the latest instance in which…