Spotify adds music videos to its streaming service

Spotify is trying to expand the capabilities of its platform to compete with other competitors, so it plans to add music videos to its streaming service. Bloomberg has revealed that Spotify is in talks with multiple partners to offer the feature. It is not yet clear who will support this new feature and when it will be available to users. This action can significantly improve the user experience on the popular Spotify platform.

Although Spotify Canvas is a similar feature, the new feature will include full music videos. Currently, Spotify’s video content is limited to podcasts, short story clips, and GIFs. In early 2023, Spotify introduced a home feed similar to Tik Tok, which focused on discovering music and podcasts instead of watching videos. Spotify’s previous attempts to combine TV content from networks such as Comedy Central and ESPN were also unsuccessful.

The idea of ​​providing music videos in music streaming services is not a new idea, Apple Music has provided this feature to users for years. Now, with the placement of music videos on Spotify, we will see its competition with Apple and it will attract many users from YouTube.

Although music videos do not generate much direct revenue, they can act as a supplement to audio revenue and increase views for composers. Platforms like YouTube pay video creators a share of their ad revenue at an average of $18 per 1,000 views. Placing music videos on Spotify can serve as an additional source of income for the company; In particular, Spotify has fired a large number of employees in recent months to reduce economic costs.

Spotify also plans to diversify its content by adding music videos to its streaming service. Unlike podcasts, which require a large production team, music videos can improve a company’s bottom line without much investment.

Source: Gizmochina