On June 30, Bloomberg informed that Spotify is actively considering the addition of full-length music videos to its app. This move is seen as a strategic effort by Spotify to better compete with YouTube and TikTok, two popular platforms known for their extensive collection of music videos. While Spotify has already introduced some video-related features like "canvases" and "clips," the inclusion of full-length music videos would further enhance its offerings in the streaming media landscape.
The report suggests that Spotify has initiated discussions with potential partners regarding this new product. However, the company has not made an official comment on the matter. This indicates that Spotify is likely exploring the feasibility and potential impact of incorporating full-length music videos into its platform.
Spotify's increasing emphasis on video aligns with the industry trend where video content tends to generate more revenue than audio in the streaming era. The company has been making efforts to integrate video as a core component of its app, aiming to provide artists with additional storytelling tools and offer users a more immersive music experience.
To cater to the Gen Z audience and compete with YouTube and TikTok, Spotify has been ramping up its video-related initiatives. The introduction of a TikTok-like music home screen, the ability to preview and swipe through surfacing videos, and the expansion of podcasts with video content are all indicative of Spotify's drive to capture the attention of younger users who are drawn to visual content.
The competition posed by YouTube and TikTok is significant, with YouTube's extensive music video library and TikTok's growing popularity as a music discovery platform. Spotify's move to incorporate full-length music videos can be seen as a response to these rivals and an attempt to retain and engage its user base.
Spotify has previously ventured into video content creation and collaborations with media companies, although those endeavours did not result in sustained partnerships.
Comments (0)