Spotify’s new strategy to compete with YouTube

spotifys-new-strategy-to-compete-with-youtube

Spotify, a Swedish music streaming service, is launching full-length music videos in a limited beta for premium subscribers, breaking into an industry that YouTube has dominated for nearly 20 years.

Music videos will be available in beta to premium users in the United Kingdom, Germany, Italy, Netherlands, Poland, Sweden, Brazil, Colombia, the Philippines, Indonesia, and Kenya beginning Wednesday, according to the company, as it seeks to expand its user base.

While Spotify’s new plan aims to reach 1 billion users by 2030, it faces competition from Apple Music and Alphabet’s YouTube, both of which offer free music videos.

Spotify will launch with a limited catalogue of music videos, including hits from global artists such as Ed Sheeran and local favourites like Aluna.

Spotify introduced “clips” in March of last year, which are under 30-second vertical videos that artists can upload directly to Spotify. In an effort to attract more users, the company has expanded its offerings to include podcasts and audiobooks.

In February, it predicted that premium subscribers would total 239 million in the current quarter, exceeding expectations of 238.3 million. The Technology Roundup newsletter delivers the latest news and trends directly to your inbox. Sign up here.

To read our blog on “Spotify premium now offers music videos in a few regions,” click here

Exit mobile version