Tuesday, April 20

Watch out Youtube and Netflix, Spotify has ventured into video streaming

Music streaming service Spotify is about to dip its leg into new waters: videos. Online video streaming is a market currently dominated by tech giant Google via Youtube.com, however, when it comes to on-demand TV and shows, US based Netflix makes billions of dollars every year being the industry leader in this market.

Right now, it’s only a matter of weeks before these two video service providers feel the impact of Spotify in their various niches as the Swedish-based music streaming company looks to introduce video services to its users as well. According to a press release outed last May by Spotify, the outfit has been testing video streaming services since 2015:

For the first time, Spotify is adding video clips and audio shows to the music mix. We know there are times in the day you want to switch between music to catch up on the latest news, listen to your favourite podcast or simply watch something fun. And with a stellar range of entertainment to choose from there’s something for everyone. Spotify will suggest video and audio shows for you to watch and learn what you love. 

Today, Wall Street Journal reports that the feature is ready and will start getting integrated to Spotify users on Android OS this week while iOS users in the US, the UK, Germany, and Sweden will receive similar treatment by the end of next week.

Watch out Youtube and Netflix, Spotify has ventured into video streaming Business Technology: General
Spotify’s music streaming service is featuring over 30 million songs and is available in 58 different markets.

During its trial period, Spotify claims the new video streaming service was actually tested and used in beta mode by at least 10% of real users available on the platform. It is estimated that there are over 20 million paid subscribers and 75 million active users on the Spotify network. Spotify is not available in Africa.

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