Spotify is reportedly considering a move into video
Spotify’s business has always been centered around streaming music, but soon the company could start integrating video into its service. The Wall Street Journal is reporting that Spotify “has been reaching out to companies that specialize in making content for YouTube.” The company is said to be inquiring about buying existing content and also partnering with those companies to produce original video. This would mark entirely new territory for Spotify.
Rival music service Tidal includes access to music videos in its subscription, and also plans to regularly stream live concerts and other exclusive content to customers. Google’s Music Key allows Play Music subscribers to watch millions of ad-free music videos on YouTube. But other tries haven’t been so successful; Rdio’s attempt to introduce a premium video store proved to be a colossal failure and an experiment that didn’t last long. So dabbling in video can either be an enticement for new subscribers, as Google and Tidal are trying to prove, or a fruitless distraction in the case of Rdio.
Earlier today, Spotify sent out invites for a May 20th press event, but it’s unclear whether the company will outline its ideas for video there. The Journal says that the company is only now “laying plans” for the video venture.
Source: The Verge