Social networks like Facebook, Instagram, and Snapchat have become the best means of communication for many people, and now it seems that Apple wants to cash in on that trend. According to a Bloomberg report, Apple is looking to "capitalize on the popularity of social networks" by developing a video-sharing app for iPhone and iPad. The new app, which is reportedly in development for 2017, would let users quickly take, edit, and share video by using one-handed controls on their mobile device.

The video app sounds a lot like Snapchat in terms of features: users can record a video and then apply filters to it, doodle, or place text over it, and then send it to friends via the contact list or existing social networks like Twitter. According to anonymous sources close to the project, the app will be designed to let users shoot and upload video in less than a minute, and possibly in a square shape like Instagram photos were confined to. Bloomberg reports that the app is being developed by the Final Cut Pro and iMovie teams. It's unclear if Apple plans to release the app as a standalone download in its App Store or if it will bundle the features into its existing Camera app. It's also unclear if we'll ever see this video app—it's currently in the preliminary development stages, and the project could be killed if it "doesn’t meet the company’s timetable and expectations."

This news comes as Apple's revamped iMessages application will be available to all users when iOS 10 comes out in the fall. The updated messaging app will let users send handwritten text and drawings, full-screen effects, larger emojis, and more. With that update, Apple is clearly trying to bring its native messaging app up to the standards of Facebook Messenger, WeChat, WhatsApp, and Line, which have had similar features for a while. But now with the news of a possible video sharing app, it's clear that Apple wants to play on the same social media level as those messaging apps, as well as others like Snapchat and Instagram.