Facebook is planning to launch a video service in the vein of Twitter's Vine, according to a report.

As Digital Spy reveals, TechCrunch cites an inside source claiming that the social network is adding clip-sharing functionality to its Instagram app.

The world's biggest social network is holding a media event on June 20, where it has been speculated that the Vine competitor could be unveiled.

Previous rumours suggested that Facebook could be readying its own take on the Google Reader RSS aggregator, which is to be shut down next month.

Twitter launched Vine for iOS devices around four months ago, bringing the service to Android tablets and smartphones two weeks ago.

Facebook is keeping specific details of its press conference under wraps.