Last month, we reported that Spotify is preparing to introduce a higher-priced subscription option referred to as “Supremium”, that is expected to include high-fidelity (Hi-Fi) audio. Now, the music streaming company is planning to add more features to the app.
Bloomberg reports that according to insider sources, Spotify is actively considering the addition of full-length music videos to its app, aiming to bolster its competitiveness against YouTube and TikTok in the streaming service industry and the company has initiated discussions with its partners about this new feature.
This move is part of Spotify’s strategy to embrace video content as an essential component of its platform, acknowledging the higher revenue potential associated with video in today’s streaming media landscape compared to audio alone. Currently, Spotify already allows artists to upload short looping GIFs called “canvases” that accompany their music, and it recently introduced “clips,” which are videos lasting less than 30 seconds, serving as a storytelling tool for artists similar to the concept of TikTok.
Bloomberg added that Spotify’s decision to include full-length music videos is a response to the escalating competition for the Gen Z audience, primarily driven by YouTube and TikTok. YouTube’s streaming music service not only offers full-length music videos but also features shorter “Shorts.” Moreover, YouTube Music now includes podcasts in its offerings.
On the other hand, ByteDance, the parent company of TikTok, reportedly plans to expand its music streaming service Resso, which is already available in countries where Spotify operates. TikTok itself has emerged as a significant platform for musical artists to gain exposure and discovery.
