Spotify Develops Full Video Feature, Wants to Compete with YouTube and TikTok

Spotify Develops Full Video Feature, Wants to Compete with YouTube and TikTok - 43

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Spotify Technology SA is contemplating the addition of complete music videos to its application, which could assist the streaming service in better competing with YouTube from Alphabet Inc. and TikTok from ByteDance Ltd.
According to sources familiar with the plan, the company has already begun discussions with partners about the product. These sources requested anonymity as they were not authorized to discuss the matter publicly.
Spotify is responding to the increasing competition for the Gen Z audience posed by YouTube and TikTok, which appeal to fans with complete music videos and shorter Shorts. It has also incorporated podcasts into YouTube Music.
ByteDance, the determine organization of TikTok, has reportedly sought to amplify its song streaming carrier Resso, that's already to be had in international locations in which Spotify is offered.
Previously, Spotify has shown interest in video by creating original series and collaborating with media companies like Paramount Global and Vice Media to feature TV content in the app, such as clips from the Comedy Central show Broad City. Spotify has initiated talks with potential partners to integrate this new video feature into its platform.
By introducing complete music videos, Spotify would be able to enhance its video offerings, a lucrative sector in the age of streaming media.
In March, the company introduced a music home screen similar to TikTok, allowing users to preview and swipe through emerging videos before selecting a song to listen to. YouTube, which initially started as a video platform, has also entered the podcast space by incorporating them into YouTube Music.
Meanwhile, ByteDance, the determine agency of TikTok, plans to make bigger its track streaming provider Resso, that's already to be had in international locations wherein Spotify operates. Spotify's potential inclusion of complete music videos reflects the trend of tech companies imitating TikTok's successful formula.
As TikTok continues to dominate the short-form video market and gain popularity among younger audiences, Spotify aims to adapt its platform to meet these evolving consumer preferences.
By imparting a extra complete video experience, Spotify hopes to maintain its consumer base and appeal to new listeners in an an increasing number of aggressive market.
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