According to TechCrunch sources, Instagram plans to implement a new video format that will allow uploading longer videos. Some dramatic changes will probably take place in the near future like:

Format – the network will allow users upload 4K, full-screen, vertically oriented videos with a larger duration than the current 60-second limit on videos.

Another sections designated for videos: these materials will not be in the usual Instagram feed but on a hub with sections of popular videos. In addition, users might have the option to resume watching theirs videos. It’s still fuzzy if the videos will be in the app or on a separate destination hosted by Instagram.

Endorsers, stars of Instagram: TechCrunch says that the management of the network already gathered some stars – influencers – that will help with launching the new features on June 20th.

Still medium video quality: Nope, Instagram won’t offer better video quality than YouTube. Videos might be shot with premium cameras buy they won’t look like those ones on Netflix.

Link-Outs: Just like the hyperlinks on YouTube, Instagram will allow creators to add a link on their video in order to send users to other social presences.  
How Instagram will make money from this move: ads placements, mid-break commercials etc.

Tech Crunch also launch a supposition regarding the announce on June 20th. It’s also quite possible that Instagram will release the first billion of users. Thinking that Instagram hit 600 million in December 2016, 700 million in April 2017 and 800 million in September 2017,  at this raise pace, it’s adding 100 million users every four months or so, that means it should have reached 1 billion by the June 20th event.