According to TechCrunch, the recent update also adds functionality for a captions sticker on Reels, which transcribes audio to text. Also, the caption sticker is currently available in a handful of English-speaking countries only.
Instagram earlier supported Reels up to 30 seconds only, while its competitor TikTok recently expanded its limit to three minutes for all creators.
Announcing the news, Instagram posted a meme on its official Twitter showing the progression of Reels, starting with no Reels and progressing to the new time limit.
However, more details about the latest update have not been mentioned yet.