Swedish music streaming platform Spotify is taking a bold step by launching full music videos in a limited beta version for premium subscribers. The move puts Spotify in direct competition with YouTube, which has dominated the music video space for nearly two decades.
Full music videos will be available to premium users in several countries, including the UK, Germany, Italy, Netherlands, Poland, Sweden, Brazil, Colombia, Philippines, Indonesia and Kenya. The move is part of Spotify’s goal to reach one billion users by 2030, as it seeks to diversify its offering and attract more users to its platform.
Although Spotify faces competition from other platforms such as Apple Music and YouTube, the launch of full music videos represents a significant step in its efforts to remain relevant and attractive to users. This new service will offer a limited catalog of music videos, which will include hits from global artists such as Ed Sheeran, as well as local favorites.
This move is not new for Spotify, which in March last year introduced “clips,” vertical videos of less than 30 seconds that can be uploaded directly to the platform by artists. However, offering full music videos is another step in its strategy to diversify its content and offer a more complete experience to its users.
Despite the challenges and competition in the streaming music market, Spotify continues to show solid growth in its premium subscriber base. In February, the company forecast that it would reach 239 million premium subscribers in the current quarter, beating initial estimates.
The launch of full music videos marks an important milestone for Spotify in its quest to stay at the forefront of the streaming music industry and offer users a more complete and diverse experience.
