Spotify, one of the leading music streaming services, is rumored to be considering the addition of full-length music videos to its platform. This move is part of Spotify’s ongoing efforts to enhance its offerings and compete with other streaming services in the market. Although the company has not made an official announcement, sources from Bloomberg claim that Spotify is in discussions with potential partners to make this feature a reality. While details regarding the providers of the music videos and the timeline for their availability remain unclear, the inclusion of music videos has the potential to significantly improve the user experience on the popular music streaming platform.
Presently, Spotify’s video content is relatively limited, consisting mainly of podcasts, short clips that accompany stories, and looping GIFs synchronized with songs. Earlier this year, the company launched a home feed feature reminiscent of TikTok, which primarily aids users in discovering new music and podcasts. Previous attempts to incorporate TV content from networks like Comedy Central and ESPN did not yield the desired results for Spotify.
While Spotify is not the first streaming music service to consider adding music videos, with Apple Music already offering this feature, incorporating music videos could help Spotify compete with Apple’s offerings and potentially attract users who would otherwise consume videos on YouTube. Additionally, this move would provide more content for the new feed feature and appeal to music enthusiasts who frequent popular social networks such as Instagram and TikTok.
While music videos may not be a significant source of direct income on their own, they can contribute to boosting revenue from audio streams and increasing the visibility of musicians. By adding music videos to its platform, Spotify could explore additional avenues for generating revenue, particularly as it recently had to downsize its workforce to address economic challenges and business missteps. Compared to podcasts, music videos require less extensive production teams, making them a cost-effective option for Spotify to bolster its finances without substantial resource investments.
Furthermore, Spotify is also reportedly working on a premium subscription option called “Supremium,” which would offer high-fidelity audio, commonly known as Spotify HiFi. This new tier, aimed at generating additional revenue, is expected to be the company’s most expensive plan. Spotify HiFi was initially announced in 2021 as a feature that improves the sound quality of songs to “lossless” CD-quality music, but it has yet to be launched.
While Spotify has not officially abandoned its plans for the HiFi feature, it has been notably silent about it during major events, including this year’s Spotify Stream On event. This decision may be attributed to the fact that competitors like Apple and Amazon have already introduced lossless streaming as part of their regular subscription offerings, prompting Spotify to reevaluate its approach before launching its HiFi feature.
The potential addition of music videos and the development of a high-fidelity audio option demonstrate Spotify’s commitment to evolving its platform to meet the demands of its users and stay competitive in the streaming music industry. These strategic moves not only aim to enhance the user experience but also generate additional revenue streams, ensuring the continued growth and success of the popular music streaming service.
