Rumor: Instagram getting video this week?

Facebook is holding a press event later this week, in which it is expected to announce something big for its platform.

The most cited rumor is that Facebook will update its popular photo-sharing app Instagram to include short video sharing, just like rival application Vine.

Facebook’s event is on June 20th, but the social networking giant has kept details under wraps.

Instagram has been said to be internally testing video and it is unclear whether the update will allow filters for video, as well.

The move would be a direct reaction to the Twitter-owned Vine, which allows users to share six seconds of video footage via iOS and Android and is deeply integrated with Twitter. Despite being much newer, Vine shares have already surpassed Instagram shares on Twitter.