Spotify may take on TikTok, YouTube Music, launch full-length music videos

Spotify is reportedly looking into the possibility of adding full-length music videos to its collection. It will put it in a straight fight with TikTok and YouTube Music.

| Updated on: Jul 02 2023, 14:03 IST
Netflix, Hulu, HBO Max, Amazon Prime, YouTube killing off the music streaming business
image caption
1/6 Published in INFORMS journal, 'Marketing Science', research revealed that the consumption of audio music streaming was significantly reduced due to people being locked inside their homes. (Unsplash)
2/6 People have instead turned to video platforms such as Netflix, Hulu, HBO Max and Amazon Prime as a means of keeping them entertained and engaged. (Unsplash)
image caption
3/6 According to Jaeung Sim of Korea Advanced Institute of Science and Technology (KAIST), "On average, audio music consumption decreased by more than 12% after the World Health Organization (WHO) pandemic declaration on March 11, 2020. As a result, during the pandemic, Spotify lost $838 million of revenue in the first three quarters of 2020, our results show that human mobility plays a much larger role in the audio consumption of music than previously thought." (Unsplash)
image caption
4/6 The study was conducted by Sim alongside Daegon Cho also of KAIST, and called ‘Virus Shook the Streaming Star: Estimating the COVID-19 Impact on Music Consumption’. It determined the nature of changes by looking at the streaming data for top songs for two years in 60 countries, as well as COVID-19 case and lockdown statistics and daily mobility data in those areas. (Unsplash)
image caption
5/6 Telang of Heinz College at CMU said "Despite the common expectation that the pandemic would universally benefit online media platforms, we found that it adversely impacted music streaming services, our findings imply that the substantially changing media consumption environment can put streaming music in a fiercer competition against other media forms that offer more dynamic and vivid experiences to consumers." (Unsplash)
image caption
6/6 The study revealed that the consumption of music had a direct correlation with lockdown restrictions associated with COVID-19 and the time spent at home. (Unsplash)
icon View all Images
Spotify is reportedly looking into the possibility of adding full-length music videos to its collection. It will put it in a straight fight with TikTok and YouTube Music. (Bloomberg)

Spotify, the popular music streaming platform, is reportedly looking into the possibility of adding full-length music videos to its collection. This strategic move aims to bolster its competitiveness against YouTube Music, which already offers extensive support for music videos, and also to challenge the popularity of TikTok, a leading short-form video platform. Citing sources familiar with the matter, a report by Bloomberg sheds light on Spotify's intention to introduce music videos, a feature that could significantly improve its position in the market.

At present, Spotify allows artists to upload GIF images that accompany their tracks, but this falls short of offering the immersive experience of full-fledged music videos. Recognizing this, the streaming giant is in talks with various partners about incorporating music videos into its platform, a decision geared towards attracting more of the Gen Z audience and enticing them away from YouTube and TikTok.

However, the exact timeline for the availability of music video support on Spotify remains unknown, and YouTube Music currently holds the advantage in this domain.

Apart from that, Spotify is rumoured to be planning the introduction of lossless audio streaming, aimed at audiophiles who seek top-notch sound quality. This new feature is expected to be part of a higher-priced subscription tier called "Supremium," a concept previously unveiled as "Spotify HiFi" in February 2021 but yet to be implemented. The rollout of this premium plan is speculated to take place later this year, initially targeting non-US markets.

In recent times, Spotify has also made strides in enhancing the user experience on desktop devices. The platform underwent a revamp, resulting in a more seamless and engaging interface for users to explore, curate, and organise their music. The redesign included refreshing interfaces for "Your Library" and "Now Playing," aligning the desktop experience with the user-friendly interfaces found in Spotify's mobile apps.

In short, with these new developments in the pipeline, Spotify is determined to solidify its position as a dominant player in the music streaming industry, taking on established giants like YouTube Music and capitalising on the ever-growing popularity of TikTok. As the competition intensifies, users can look forward to a more diverse and enriching musical experience on Spotify's platform in the near future.

Follow HT Tech for the latest tech news and reviews , also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 02 Jul, 14:03 IST