What Happened
After a long period of speculation, Spotify is finally ready to add video content to its roster. The popular music streaming service has confirmed the plan to launch a video-streaming product later this week with content from media partners such as BBC, Comedy Central, ABC, and ESPN. The videos will be packaged into category-specific playlists, such as “News of the Week” or “Laughs at Lunch,” just as Spotify does with its music playlists. Contrary to most apps’ iOS-first strategy, Spotify will make this feature available on its Android app first later this week, with the iOS version arriving by the end of next week.
What Brands Need To Do
Spotify has already introduced video ads to its service in 2014, allowing users to watch a video spot in exchange for 30 minutes of uninterrupted listening. Expanding its content offerings can help Spotify better compete with rival streaming services such as Apple Music or YouTube’s Music Key. Although there is currently no detail on how Spotify plans to monetize the video content, it is safe to assume that it would soon be open to ads. For now, brands that are reaching consumers on Spotify should consider developing branded content or sponsorships with the aforementioned media partners to get in on Spotify’s video product.
Source: Engadget
