Spotify has sent out invitations for a May 20 press event, promising “some news” without revealing any more details. However, a separate report from The Wall Street Journal suggests the music streaming service could be preparing for a big push into video.
The Swedish firm is apparently in talks with a number of video production companies that currently use YouTube’s platform. Potential new partnerships could focus on bringing visual content to Spotify, including original productions. The Wall Street Journal adds that the new service could be announced this month.
Spotify is likely looking to leverage its success with music streaming to enter new arenas in an effort to thwart off rivals. Apple is expected to launch a rebranded Beats Music next month at WWDC 2015, and the celebrity-backed Tidal recently launched with a mix of paid music streaming, videos and other exclusive content.
It sounds like Spotify could be planning to take-on YouTube primarily instead of focusing Apple and Tidal. Whether the company can actually compete with Google’s video streaming giant remains to be seen, but we’re excited to learn more later this month.