Spotify is reportedly contemplating the addition of full-length music videos to its streaming platform. According to sources, the company is currently in discussions with potential partners about this feature, although there's no clarity yet on who these partners might be or when the feature could be implemented. Spotify has declined to comment on the matter.
At present, video content on Spotify is limited to podcasts, 30-second storytelling clips that artists use to discuss their work, and 10-second looping GIFs that play while a song is being played. In March, the streaming giant introduced a TikTok-like home feed intended more for music and podcast discovery rather than video viewing. Despite dabbling in TV content with clips from Comedy Central and ESPN several years ago, the effort didn't gain significant traction.
Full-length music videos are not a new concept for streaming music platforms. Apple Music, for instance, has been hosting music videos for years. By adding this feature, Spotify could match Apple's offerings and possibly attract audiences who would otherwise turn to YouTube to watch music videos. The move would also expand the content on the new feed and help Spotify attract music-focused viewers from social networks like Instagram and TikTok.
Despite not generating substantial direct revenue, music videos do contribute to overall income and potentially boost exposure for artists. On YouTube, creators earn a 55% share of ad revenue, which typically amounts to $18 per 1,000 views. This modest income is then divided among artists, labels, and other involved parties.
Given Spotify's significant layoffs earlier this year, including 200 members of its podcast team, amid global economic challenges and business missteps, the company is under pressure to discover new revenue sources. Incorporating music videos could enhance Spotify's financial situation without necessitating a large production team as in the case with podcasts.
