According to Bloomberg sources, music streaming service Spotify is reportedly considering the addition of full-length music videos to its app. While the company is said to be in talks with potential partners, it is still unclear who would support this feature or when it might be introduced. When approached for comment, Spotify declined to provide any information on the matter.
Currently, Spotify offers limited video content such as podcasts, 30-second storytelling clips to facilitate artist conversations about their work, and 10-second looping GIFs that play alongside songs. In March, the media giant also launched a TikTok-like home feed, which aimed to enhance music and podcast discovery rather than video viewing. However, several years ago, Spotify experimented with TV content by including clips from Comedy Central and ESPN, but this initiative did not gain significant traction.
While introducing full-length music videos to its app may not be groundbreaking for streaming music services, Apple Music has been featuring music videos for years. By incorporating this feature, Spotify could catch up to Apple and potentially attract audiences who would otherwise watch music videos on YouTube. Additionally, this addition would enrich the new feed feature, enabling Spotify to draw musically-inclined viewers from popular social networks like Instagram and TikTok.
It must be noted that music videos themselves do not generate substantial direct revenue. YouTube, for instance, gives creators a 55% share of ad revenue, which statistically amounts to approximately $18 per 1,000 views. Artists, labels, and other involved parties then have to divide this relatively small amount among themselves. Nevertheless, music video clips complement the overall audio income and can increase exposure for musicians.
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There is also pressure for Spotify to explore new income sources. Earlier this year, the company laid off a significant portion of its workforce, including 200 employees from its podcast division. These moves were made in response to the challenges posed by a tough global economy and previous business missteps. Adding music videos to its platform could help improve Spotify’s financial situation without requiring a large production team, as is needed for podcasts.
In conclusion, Spotify’s potential addition of full-length music videos to its app represents an effort to stay competitive in the streaming music industry. By following in the footsteps of Apple Music, Spotify aims to not only attract users who prefer consuming music videos within the app but also draw in viewers from popular social media platforms. While music videos may not generate substantial revenue by themselves, they can contribute to artists’ exposure and supplement their audio income. Furthermore, this move could potentially assist Spotify in recovering from previous setbacks and improving its financial position without the need for extensive production teams.
