Will they or won’t they? That’s the question on everyone’s lips as Spotify holds the world waiting on word of a possible expansion into video streaming, including original digital content.
The Swedish music-streaming service is widely speculated to make the announcement of its move to VOD on May 20, when it’s scheduled to hold a media event in New York. So far, there is no confirmation from the company on the topic.
A Wall Street Journal report, published earlier this month, states that Spotify is currently in talks with YouTube about acquiring the rights to some of the Google-owned platform’s videos, as well as creating its own original video content.
The proposed format is said to be similar to Spotify’s multi-tiered music-streaming model, which features free, ad-supported and limited-choice streaming, as well as a premium paid service.
Spotify, lead by CEO Daniel Ek (pictured), is currently the most popular music streaming service on the planet, with more than 60 million active users (a quarter of whom are paid subscribers), according to its own statistics.
Still, the Stockholm-based company has struggled financially. Its widely reported 2013 financial report indicated that, despite continually growing revenue, the company was losing money. Last year, the company made headlines after Taylor Swift pulled her entire music library off of the service after it refused to restrict access to her music to premium users only.
Spotify has expanded its services vastly since its launch in 2008, with recent moves including Spotify Family (a discounted option for multiple users in one household to access Spotify Premium) and a partnership with Sony earlier this year to create PlayStation Music, allowing gamers to listen to music while playing.