Facebook has announced that it will bring video to Instagram, the popular photo sharing service which the company acquired last year for $1 billion.

In an apparent effort to compete with the Twitter-owned Vine video sharing app, Instagram will integrate video sharing into its current photo feed. The updated service will become available for both iOS and Android users today.

Unlike Vine, Instagram users will be able to apply filters to their video clips, with 13 brand new video-specific filters available at launch. Videos can be up to 15 seconds in length, compared to Vine's six seconds, and users will able to select their own cover photo from stills. Instagram users will also have the option to delete segments of video, a feature not currently offered in Vine.

For iPhone 4S and 5 users, a Cinema feature will be available to assist with video stabilization, and will be enabled by default.

Though Instagram videos will auto play, they will not loop. Check out a preview of Video On Instagram, below, and let us know your thoughts in the comments.

Will you be ditching Vine for Instagram? Do you like the added convenience of one service, or would you prefer to keep your photo and video sharing separate?