Spotify has become one of the leading music streaming services on the market, but it appears that the company isn’t satisfied with being a one note company and may be looking to jump into streaming video as well.
According to two unnamed sources that have been briefed on the plans that spoke with Business Insider, Spotify is very interested in moving into the streaming video side of the online content business. According to the sources, the company is not only looking for partners that could help fund the move into the streaming media venue, but also help with the creation of original content.
Streaming video is becoming a hot bed for companies as of late, and while Netflix currently sits on the throne as the king of content, Hulu has been gaining ground and Amazon is about to unleash a slew of original content of its own. While Spotify has some definite name recognition, launching a streaming video service won’t be an automatic home run for the company. It does have experience on its side in how to negotiate with content providers and how to set up the necessary technology, but there is also the matter of acquiring the customers. Sure, $7.99 a month may not seem like much for a streaming service, but if you subscribe to both Netflix and Hulu, and possibly count Amazon in spite of the other services Prime offers, you have to wonder when customers will say that they have enough services streaming content into their homes.
There is no timeline currently set as to when Spotify could potentially launch its video service, and there is every chance that it may never happen if all the pieces can be properly aligned. The mere fact that this is now being discussed raises a lot of questions about just how many streaming services the world can sustain.