Spotify is planning to launch a video on-demand service to sit alongside its market-leading music streaming offering, according to reports on Monday.
Business Insider claims to have spoken with two sources familiar with the company’s plans, who claim that Spotify wishes to launch a service that will rival platforms like Netflix and Lovefilm, as well as on-demand offerings from the BBC, Channel 4 and Sky.
The surprise report even suggests the Swedish-born company will use the platform to move into content creation, as Netflix has recently achieved with its House of Cards drama series and the forthcoming new series of Arrested Development.
That, in turn, would make Spotify a rival to the likes of HBO, the current king of original cable TV content in the US with big budget, high production value shows like Game of Thrones and Boardwalk Empire.
The Business Insider report states that Spotify may seek new investment as it seeks to make the transition in to video content.
The company is already worth an estimated $3 billion, but acquiring the rights to a content library able to challenge Netflix, not to mention produce its own programming would require a serious amount of cheddar.
UPDATE: Spotify did not comment when approached by this site, although in a recent interview with CNET,
CEO Daniel Ek said: “I won’t rule it out because we’re a company that
looks at what we’re doing incredibly long term, but right now, we’re all
focused on music.”
While we’re on the subject of television, the
company is launching its first ever advertising campaign tonight with
the below commercial airing in the US tonight during The Voice.
Will it one day be providing televisual content of its own?
Next: Read our Netflix vs Lovefilm comparison