Spotify is a well-known player in the music streaming world, but not yet in online video. However, that image may soon change. The Wall Street Journal reports Spotify is possibly looking to enter the world of online video through acquired or produced content.
Sources familiar with the matter told WSJ Spotify has been in talks with both traditional and digital media companies to set up partnerships with them. Additionally, the WSJ sources said the music streaming platform has talked with YouTube-focused content companies about acquiring their content or co-producing new video programming for Spotify.
The potential video service from Spotify would be available to all users (even the ones who don’t pay for Spotify’s ad-free premium monthly subscription), and could be supported by ads in the future. Spotify’s move towards online video, while unique for its space, shouldn’t come as a complete surprise, as the service has mulled the idea of online video for a while now.
If Spotify does enter the world of online video, it will take on the challenge of standing out in a very competitive space. Consumers already have places like YouTube, Facebook, and now Vessel to turn to for their favorite programming. And there’s always subscription services like Netflix, Hulu, and Amazon for longer-form, award-winning content.
But Spotify thinks it can gain quick traction in the online video world by leveraging the data it already owns about users’ music-streaming habits. This could mean Spotify users who prefer listening to music while they work out would be targeted with different video content than a user who likes calming, nature-based sound bites would see. This data-based approach is similar to the one Facebook touted when it first began to play up its online video offerings.
Spotify declined to comment on WSJ’s report. However, the streaming music service did announce it would hold a media event on May 20, 2015, where it could reveal its video plans.