If the video-on-Instagram presentation today at Facebook’s headquarters accurately depicted how the new feature would work, it’s likely time for quick product upgrades from the Twitter folks running Vine.

Here are the key details. Instagram videos are 15 seconds long, play instantly, offer a selection of dedicated filters so users can vary how their clips look, involve a crucially important “cinema” element that fixes shaky motion, entail thumbnails and will not loop.

Instagram’s 130 million monthly users can update the mobile app right away on both iPhone and Android devices. The videos will be available on the web as well mobile. Read more…