💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadUnlock them all

Spotify considering full-length music videos on app - Bloomberg News

Published 06/30/2023, 03:41 PM
Updated 06/30/2023, 03:48 PM
© Reuters. FILE PHOTO: The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid/File Photo
GOOGL
-
GOOG
-
SPOT
-

(Reuters) - Spotify Technology (NYSE:SPOT) is mulling adding full-length music videos to its app, which could help the music streaming platform compete with TikTok and {[0|Alphabet Inc}}.'s (NASDAQ:GOOGL) YouTube, Bloomberg News reported on Friday, citing people familiar with the matter.

Spotify, which did not immediately respond to a Reuters request for comment, already allows artists to upload looping GIFs, which plays when a music track is playing.

Spotify, which already has more than 100,000 podcasts with videos, has begun talks with partners about the product, the report said.

© Reuters. FILE PHOTO: The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid/File Photo

It is looking to attract more Gen Z audiences away from YouTube and TikTok's short-form video platforms. YouTube already has a music streaming service dubbed YouTube Music, with music videos.

Earlier this month, Spotify said it would cut 200 jobs from its podcast unit in its second round of layoffs, as it looks to restructure after years of heavy investment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.