I’m not sure if this was a direct move to compete with Jay Z’s TIDAL, but Spotify is currently heading into the web video business.
After the initial TiDAL presentation, the streaming service has reportedly already contacted several companies that make content for YouTube to discuss partnerships, ways to co-create original video series, among other topics. Spotify actually has a media event on May 20th in New York, we may get a formal announcement then if something gets done between now and then.
With audio streaming market becoming flooded, video content is one of the ways they could bring in additional revenue, while at the same time, taking away market share from the already growing, TIDAL.
No further details have been released as of now, but we’ll keep you posted as more information unfolds.
