According to a report in Business Insider, Spotify has its long-term sights set on the online video. The report cites a pair of “sources briefed on the company’s plans” who claim the popular music streaming service will add original video to its lineup in an attempt to challenge premium platforms like Netflix and Hulu.
Business Insider also noted the sound reasoning behind Spotify’s potential expansion. Right now, the company has to pay record labels for the rights to songs, and because there are so many other music streaming services available (with Google’s proposed YouTube-powered option serving as the latest challenger), Spotify is completely at the whim of its business partners. By attracting more users with video options, Spotify can make its music platform into a killer app that music labels can’t afford to bully.
Of course, this is still all hearsay, and other outlets have not been able to corroborate Business Insider’s scoop. “I won’t rule it out because we’re a company that looks at what we’re doing incredibly long term,” company CEO Daniel Ek said in a recent interview with CNET, “but right now, we’re all focused on music.”
While it’s true that online video is less crowded than online music, Spotify may find its opportunities in the space are limited. After all, is there really room for more than one Netflix? It’s the current leader in the TV-style online video clubhouse, and Kevin Spacey can only put on a ridiculous Southern accent so many times. Spotify would have to conduct an extensive search to find the killer content it desires.