Spotify considering full-length music videos on app - Bloomberg News

[July 01, 2023]  (Reuters) - Spotify Technology is mulling adding full-length music videos to its app, which could help the music streaming platform compete with TikTok and Alphabet Inc's YouTube, Bloomberg News reported on Friday, citing people familiar with the matter.  

The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid/File Photo

Spotify, which did not immediately respond to a Reuters request for comment, already allows artists to upload looping GIFs, which plays when a music track is playing.

Spotify, which already has more than 100,000 podcasts with videos, has begun talks with partners about the product, the report said.

It is looking to attract more Gen Z audiences away from YouTube and TikTok's short-form video platforms. YouTube already has a music streaming service dubbed YouTube Music, with music videos.

Earlier this month, Spotify said it would cut 200 jobs from its podcast unit in its second round of layoffs, as it looks to restructure after years of heavy investment.

(Reporting by Akash Sriram in Bengaluru; Editing by Maju Samuel)

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