Spotify is reportedly working to add music videos to its platform, which may add a new revenue stream for the company.
While it’s unclear when this feature will roll out, Bloomberg reports that Spotify is talking with potential partners. Once available, this would put Spotify on par with Apple Music, which already streams music videos alongside audio and podcasts.
Music Videos on Spotify
Spotify for long has been known only as an audio-only app, although it helped the company to excel in its field. But with economic conditions worsening and tough competition from rival music platforms, Spotify, even being the market leader, should explore new ways to keep up.
In this pursuit, the company is reportedly in talks with potential partners for adding music videos to its platform, says Bloomberg. While there’s no hint on when this feature will arrive, it at least puts the music platform on par with Apple Music – which has had this support for years.
Running a full-length music video will also help Spotify draw people from YouTube, who would watch music videos there too. All this would hopefully generate an additional revenue stream for the company, which is struggling despite being a market leader.
Earlier this year, Spotify laid off a significant portion of its staff, including 200 Podcasts team members. So adding music videos may benefit the company, which doesn’t need hefty production costs like Podcasts.
It also refreshes the new feed Spotify added last year, which would only help users discover new music in TikTok-style swipe-ups. Besides this, the platform also has 30-second storytelling Podcast clips and a and 10-second GIFs that loop while you listen to a song.
