Facebook is set to hold a press event on June 20, Thursday, and rumors are abundant as to what the social giant is set to unfold on that day.

Earlier reports suggest that Facebook will be launching a news Reader of its own, just in time to replace the service being axed by Google.  It’s not surprising that Facebook wants to fill the hole Google Reader is leaving when it finally disappears for good on July 1, 2013. Facebook is already the leader in social networking, so why not extend it to something that people also use everyday?

The Facebook news reader rumor emerged after a discovery by Scottish developer and blogger Tom Waddington, who he noticed some unusual code while working with Facebook’s API.  He came across a line of code detailing RSS Feeds, together with lists of subscribers but was not able to access the feeds to learn their importance.

The second rumored announcement is that Facebook could be launching an Instagram video feature, just like Twitter’s Vine.  According to a report from The Desk’s Matthew Keys four weeks previously, Instagram’s video feature will allows users to upload clips that are 5-10 seconds long. At the time of his report, Instagram was said to be testing the product internally.  Now, it seems like Facebook could be ready to unveil its Vine competitor as early as this Thursday, something it hopes will encourage more people to use Instagram.

If you’re already a user of Twitter’s Vine, which lets you post looping videos on Vine’s network as well as Twitter and Facebook, you’re probably not going to be convinced to switch that easily. So, is there anything that Instagram could offer to tempt you to use its video platform instead?

3 Things Instagram Video Needs 2 Succeed

Privacy settings:

On Vine, anything you create and post is meant for the public to see.  There’s no privacy setting that would let you choose who to share videos with.  If Instagram can offer privacy options, users might embrace the service since they can be sure that only their friends will get to see the really embarrassing stuff.

Selfies:

When Vine was introduced, it had no support for front facing camera.  So, if you wanted to take a video clip of yourself, you needed to use the rear camera of your smartphone.  Vine recently introduced support for front cameras with its updated iOS app, but this feature still hasn’t been offered for Android users thus far.  If Facebook really is launching a video feature on Instagram, it could take an early advantage by offering support for front camera use on both platforms.

Zoom:

Vine was recently introduced to the Android community, but not all the iOS features are present on the app.  Still, it did get a leg up on iOS in one department, with the inclusion of a ‘zoom’ feature.  If Instagram video launches later this week, like the selfies feature, Facebook would do well to ensure that ‘zoom’ is available on both platforms.

If you’re still wondering why Facebook wants to incorporate videos on Instagram, it’s for the simple reason that people these days just love making and sharing video clips. For many people, sharing videos is much more enjoyable than posting images, because videos can convey so much more.  Plus, when the Android version of Vine was launched, usage of the service greatly surpassed that of Instagram.  And with Facebook being the king of social networking, these numbers are surely pissing the social giant off no end.