The newly launched video feature on Instagram is creating waves since its release. Reportedly, users have uploaded a whopping 5 million videos within the first 24 hours of the feature's launch.

An Instagram spokesman disclosed to CNET that once the picture sharing social network began accepting video clips, it met with an overwhelming response.

"Instagram users have embraced the application's just-released video feature by uploading 5 million videos in the first 24 hours of the feature's availability," CNET reported.

The Facebook-owned Instagram was previously restricted to being only a photo-sharing app. However, on June 20, Instagram added video to its Android and iOS apps, enabling users to share upto 15-second long videos (whereas Vine allows clips up to 6 seconds). The footage is stabilized during upload and users have the option to make use of the app's effects and filters.

The Instagram Video feature bears a strong resemblance to Twitter's Vine, which also lets users share short video. Facebook launched the new feature in a bid to challenge rival Twitter's Vine and if the initial response is any indication, Instagram Video is on its way to ruling popularity charts.

Apparently, with eager users rushing to try out the new feature, nearly 40 hours of video was uploaded per minute at peak times.

Per CNET, "At peak, Instagram users uploaded 40 hours of video per minute. The climactic moment came Thursday night as the Miami Heat defeated the San Antonio Spurs during the NBA Finals, the representative said."

Even though Instagram Video is off to a flying start, we'll have to wait and see if it can continue with this trend or will fizzle out in the long term.

Instagram Video is available for iOS and Android. Check out the video below to see the feature in action.

Introducing Video on Instagram from Instagram on Vimeo.