Jordan O'BrienSpotify is the current market leader in the world of streaming music, but according to the Wall Street Journal, the company is planning to enter the world of original video content.
Apple is supposedly gunning for Spotify with a Beats-branded music streaming service, so it’s only natural that the company will want to ensure that it can have a secured revenue stream in case it loses subscribers to Apple’s service.
Spotify will have competition however; YouTube is currently king in the video market and will be hard to topple.
Despite that feat, Spotify is reportedly courting existing YouTube creators in the hope that they’ll jump ship to its platform.
It’s not just amateurs Spotify is after however; the Wall Street Journal is also reporting that the company has been in touch with traditional media companies, hoping that they’ll put exclusive content onto the service.
Of course Spotify has yet to announce anything, but it is thought that there will be a free version of the service available, as well as a paid subscription, much like the company’s music streaming business.
Rumours are circulating that the video streaming service will be announced at Spotify’s event on May 20.