A new report is suggesting that Spotify may be moving into the video streaming biz, likely revolves around music videos
According to sources speaking with The Wall Street Journal, Spotify could soon be making the move into the video streaming circuit as it has reportedly been “reaching out to companies that specialise in making content for YouTube.” Though you’d immediately think Spotify could be looking at launching a music video service, the report adds that Spotify may also be looking for original content too.
In addition to the talks, the company is also said to be inquiring about purchasing existing content as well as partnering with companies to produce original video, which if true, would be a pretty obscure turn for Spotify. Music videos seem like a perfect match for Spotify, but trying to get into the original content scene might be asking for trouble. Depending on what content they’re looking for they’ll be either competing against YouTube, one of the biggest video content hosts, or even worse Netflix, one of the largest TV and movie streaming services in the world.
Tidal, the rival music service owned by Jay-Z, includes access to music videos in its fairly hefty subscription. It also plans to regularly stream live concerts and other exclusive video content to its customers, if Spotify also went down this route, Tidal has no hope. YouTube themselves also recently launched a music video subscription service as well as an upcoming service for people to subscribe to, which removes ads from all videos. These of course are two examples of who Spotify will be going up against if they do decide to host video content it’ll be interesting to see whether it’ll pull people further away from Tital and YouTube or whether it’ll be a flop.
We might find out as soon as May 20, as Spotify has sent out invites for a press event on that date, though it’s unclear whether it’ll be for its video efforts or for something else entirely.laying plans” for the video venture.