Spotify Reportedly Preparing To Branch Out Into Online Video
The Wall Street Journal has reported people familiar with the matter as stating Spotify is making preparations to enter the video business, which would see it taking on the likes of YouTube and Facebook.
The WSJ reported its sources as stating that Spotify has been been in talks with several digital media companies about potential partnerships, with Spotify having approached companies that specialise in creating and distributing video for YouTube to discuss both acquiring their material and co-creating original video series.
Spotify has enjoyed rapid growth in recent years, and a potential move into video could see it further integrate and expand its media offerings.
At the beginning of the year, Spotify announced it had ended 2014 with 15 million subscribers and 60 million active users, recording a significant take-up in users in the two months from November, at which time it revealed it had more than 50 million active users, of which 12.5 million were subscribers.
Spotify could announce its plans as early as this month, the WSJ reported.