Spotify explores full-length music videos to bolster competition against YouTube and TikTok: Report – Crypto News – Crypto News
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Spotify explores full-length music videos to bolster competition against YouTube and TikTok: Report – Crypto News

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Spotify Technology SA is testing the inclusion of complete music videos within its application, potentially enhancing its ability to rival Alphabet Inc.’s YouTube and ByteDance Ltd.’s TikTok in the streaming service market.

According to Bloomberg, Spotify has reportedly initiated discussions with partners regarding the potential product, with the intention of adding full-length music videos to its platform.

The report from Bloomberg suggests the potential addition of full-length music videos to its platform aligns with Spotify’s expanding efforts to incorporate video as a prominent component of its application.

In the era of streaming media, video content has proven to be more financially rewarding than audio. Spotify already allows musicians to upload brief looping GIFs, known as “canvases,” which are displayed on the screen while music is playing. Earlier this year, the platform introduced a feature called “clips,” which are short videos under 30 seconds in length, aimed at providing artists with a storytelling tool to engage with their audience and communicate about their music, similar to the usage of TikTok.

In March, Spotify introduced a new music home screen reminiscent of TikTok, enabling users to preview and swipe through featured videos before deciding to listen to an entire track. Additionally, the company recently shared that its platform now hosts over 100,000 podcasts that incorporate video, further showcasing Spotify’s commitment to expanding its video offerings.

In response to increasing competition from YouTube and TikTok, particularly in pursuit of the Gen Z audience, Spotify is making efforts to strengthen its position. YouTube, which not only offers a streaming music service but also features full-length music videos and shorter shorts, has expanded its scope by incorporating podcasts into YouTube Music.

On the other hand, ByteDance is reportedly exploring ways to expand its music streaming service, Resso, into regions where Spotify is already present. TikTok has also emerged as a significant platform for music discovery, benefiting various musical artists.

To venture into the realm of video content, Spotify has previously ventured into original series creation and collaborations with media companies like Paramount Global and Vice Media. This led to the inclusion of TV content, including clips from the Comedy Central show “Broad City,” in the Spotify app. However, some of these partnerships eventually expired. Despite this, Spotify remains dedicated to exploring new avenues to appeal to a broader audience and stay competitive in the rapidly evolving streaming service market.

(With inputs from Bloomberg)

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Updated: 01 Jul 2023, 01:05 PM IST

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