Spotify fancies itself as the MTV of the digital age. It may be planning to add music videos to its service.
According to the Wall Street Journal’s report, Spotify has been “reaching out to companies that specialise in making content for YouTube." Spotify is hoping to get its hands on existing content, and may want to join forces with these companies to try out original content too.
If this is accurate, it’s possible that Spotify is responding to the threat of Tidal. Jay-Z’s music service currently offers music video streaming in high definition and will soon begin streaming live events.
Spotify may unveil its plans as early as this month.
The company’s worth, according to the Wall Street Journal, is about to rise to $8.4 billion. Adding video, and taking cues from rival services such as Tidal, will only strengthen its offering and position as one of the major players in the streaming industry.