Music streaming service, Spotify, has stirred the music industry pot since its inception back in 2006, and it looks like its about to rouse more controversy with its new endeavours.
The Swedish streaming giants are reportedly looking to expand into the world of web-videos which would pit them as direct competitors with existing juggernauts, YouTube and Facebook Ink, as the Wall Street Journal reports.
The New York publication claim that Spotify have been in talks with multiple digital-media companies about potential partnerships, including those who create content for industry leader, YouTube, to discuss both acquiring their material and co-creating original video series.
The video service could be very open, from the likes of anything from music film clips – which would fit like a hand in glove – to virtually anything else one may find on YouTube, and would more than likely be available to both subscribers and non-subscribers, which could eventually include advertising, providing Spotify with additional revenue streams.
With Jay-Z’s somewhat floundering service, TIDAL, offering both music and video content, Paul Verna, analyst at research firm eMarketer has predicted that other music streaming services such as Pandora may eventually jump on this trend, too.
Spotify will look to utilise the data they have on their existing users to target their prospective video content, “Spotify is hoping to enjoy an advantage in producing video based on the data it already has about consumers from their music-listening habits” explained insiders, “for example, music users who elect to listen to songs in Spotify’s “chill” genre may be offered different content than those who listen to music targeted for working out or travel.”
There’s no date as to when this online video media content could roll-out, however the insider tip to the WST suggests that it could be announced this month at Spotify’s media event held in New York City on Wednesday 20.
Grab the popcorn y’all, not only are we facing streaming service wars, there looks to be epic video sharing battles on the horizon, too.
