Streaming services are no longer in their golden age; and that makes the competition greater than ever. While services like Apple Music or Tidal focus on sound quality, Spotify prefers to focus on what it knows: personalized playlists and music recommendations with the best algorithm on the market.
The only time Spotify hasn’t followed this tactic is with its commitment to podcasts; after investing over $1 billion, the company secured exclusive rights to world-renowned creators and modified its app to promote this type of content. However, the consequences have been visible: to recoup this investment, the company has since raised the price of the Premium subscription several times and carried out massive layoffs.
Now, history may repeat itself, according to Bloomberg. Internal sources claim that Spotify’s new bet is in videoand that it’s literally doing the same thing it’s doing with podcasts: investing a lot of money into getting exclusives from famous creators, which will likely go hand in hand with an app overhaul to encourage video content.
According to the report, Spotify is offering deals “up to seven figures” to content creators to publish their videos on the platform; oddly enough, this is not an exclusivity deal, but rather creators They could upload the same content to YouTube
In fact, Spotify already offers video content. Some songs, for example, contain short video clips that are played on your mobile phone. Spotify also already offers video podcasts, and the apparent success of this format, with more than 170 million views since its launch, seems to be the motivation for this commitment to video.
The big question, of course, is how this will affect Spotify’s subscription price; given the track record, it wouldn’t be surprising if users end up paying this new obsession of the company’s management. And in the meantime, music lovers are still waiting for the launch of Spotify HiFi and its high-definition sound, which would of course be accompanied by a price increase (which its competitors do not have).
