A recent report claimed that Spotify is going to make a move into online video as it seeks to fend off competition from the likes of Tidal and Apple’s upcoming music streaming service. The company doesn’t want its business to revolve around just music and today it made the formal announcement, Spotify does video now. The announcement was made at an event that Spotify conducted today in New York City.
To provide video content Spotify has teamed up with various partners such as Vice NEWS, Slate, NBC, BBC, ABC, Comedy Central, MTV, E!, Team Coco, Adult Swim, Elite Daily, TED, CBS Radio, PRX, multiple Conde Nast brands and many others.
According to Spotify these content partners are going to bring clips from their popular programs and shows within the app, for example Comedy Central will serve clips from its popular show Broad City, expect similar content from other partners.
Video content will aid Spotify to ensure that users increase the time that they spend in its app, and could possibly open up another source of revenue for the company, which would help it keep the free music streaming tier alive that’s increasingly coming under pressure.
Spotify will soon roll out an update to its app to bring this new feature to all users.