Ever since it was launched streaming service Spotify has offered one thing and one thing only: music. It’s entire existence has been about music but if a new report is to be believed it appears that the company has other ambitions now. Spotify has reportedly been reaching out to companies that specialize in making content for YouTube as it looks to make a move into video.
The Wall Street Journal reports that Spotify is shopping around for existing content that it can acquire, and that it’s also open to teaming up with those companies to produce original video content. Clearly this is uncharted territory for Spotify but the report makes it seem as if the company has made up its mind to pursue this.
One might ask why does Spotify want to pursue video? The simple answer might be because the others are doing it. Google Play Music subscribers get ad-free access to millions of music videos on YouTube.
Even up and coming music streaming service Tidal is dabbling in video by streaming live concerts and offering subscribers exclusive video content. It remains to be seen though just how beneficial this new endeavor turns out to be for Spotify, which reportedly may soon come under pressure to end its free music streaming service.
It’s worth pointing out here that today Spotify sent out invites to a press event that it has scheduled on May 20th. It’s unclear if the event is related to its video ambitions or whether there’s just something else that it wants to talk about.
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