Spotify is the king when it comes to streaming music. In terms of music-related videos, though, TikTok and YouTube seem to have a stronger foothold in that space. Now, though, it looks like Spotify might be hatching a plan to have a more prominent video presence.
Bloomberg reports that Spotify is “considering adding full-length music videos to its app,” and that they’ve “already begun talking to partners about the product, according to people familiar with the plan who asked not to be identified because they weren’t authorized to speak about it publicly.” Spotify declined to comment for the story.
Meanwhile, Spotify CEO Daniel Ek recently said Spotify could raise its prices soon. He said, “I think we are ready to raise prices, I think we have the ability to do that, but it really comes down to those negotiations [with major music industry stakeholders]. […] We did raise prices in 46 different locations and markets last year, and even in those markets, we were still out performing. I feel really good about our ability to raise prices over time — that we have that ability — and we have lots of data now that backs that up. […] We’re working with our label partners to work […] to figure out what’s the best opportunity to do that. And that’s a more complex trade. When the timing’s right, we will raise it.”