Spotify is currently in discussions to introduce full-length music videos to its app, challenging YouTube and TikTok in the highly competitive video streaming market.
The said talks were reported by Bloomberg on Saturday (July 1), citing people familiar with the plan who requested anonymity due to the confidential nature of the talks.
The sources reportedly revealed that Spotify has initiated conversations with potential partners about incorporating the new video feature into its platform. The company declined to provide any comment on the development.
By introducing full-length music videos, Spotify would be able to enhance its video offerings, a lucrative sector in the era of streaming media.
The streaming giant has already introduced its ‘Canvas,’ feature which are looping GIFs under 10 seconds, accompanying the music playback.
Earlier this year, Spotify also unveiled ‘Clips,’ which are brief videos under 30 seconds, allowing artists to engage with their audience and promote their music, resembling the popular format on TikTok.
“Unlike other short video platforms, Clips appear in the same app where listeners can immediately stream your new releases and entire catalog,” Spotify said at the time.
Spotify also introduced a music home screen reminiscent of TikTok in March, enabling users to preview and swipe through emerging videos before deciding on a song to listen to.
With YouTube and TikTok capturing the attention of Generation Z, Spotify is keen to respond to the growing competition in attracting this demographic, Bloomberg said.
YouTube, which started out as a video platform, has ventured into the podcast realm by incorporating them into YouTube Music. Meanwhile, ByteDance, the parent company of TikTok, reportedly plans to expand its music streaming service Resso, which is already available in countries where Spotify operates.
Spotify’s potential inclusion of full-length music videos reflects the trend of tech companies emulating TikTok’s successful formula.
As TikTok continues to dominate the short-form video space and gain popularity among younger audiences, Spotify aims to adapt its platform to cater to these evolving consumer preferences. By offering a more comprehensive video experience, Spotify hopes to retain its user base and attract new listeners in an increasingly competitive market.
However, MBW recently noted the dangers for Spotify’s new home feed that mirrors TikTok.
“Gen Z may not want another TikTok-like experience crowding their phones alongside Instagram Reels, YouTube Shorts, and TikTok itself. Gen X may ignore Spotify’s new home feed entirely,” MBW founder, Tim Ingham, said in a March podcast.
News of Spotify’s reported discussions around adding full-length music videos to its app arrives at the same that the company celebrates a milestone for another video format on its app: podcasts.
On Thursday (June 29), Spotify revealed that there are now more than 100,000 video podcasts on Spotify, up 30,000 since March, when SPOT announced that there were 70,000 video podcasts on-platform.Music Business Worldwide
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