(CTN News) – Spotify may soon allow you to listen to music and watch it. According to reports, the company is in talks with potential partners, but it is not clear who would be able to provide the support or when the feature might be available.
In response to our request for comment, Spotify has already declined to do so.
There is only one type of video available on Spotify at the moment, and that is podcasts, 30-second storytelling clips (to help the artist tell his or her story about what they do), and 10-second GIFs that will loop as you listen to the song.
The company launched a TikTok-like home feed in March, designed to serve as a tool for discovering concerts and podcasts rather than just a way to watch videos, in order to serve as a discovery tool for music and podcasts.
A few years ago, the company tried to use TV content several times, including clips from Comedy Central and ESPN, but it did not succeed in this endeavor for a very long time.
There is nothing new about the concept of streaming music services. It has been a while since Apple Music started offering music videos.
As a result, Spotify’s addition could help it catch up to Apple’s video service, and it might be able to attract audiences that would normally watch YouTube videos.
Besides adding new content to Spotify’s new feed,
It would also help the music streaming service to draw more musically inclined viewers from social networks like Instagram, TikTok and other similar apps.
It has been found that music videos on their own do not generate much direct revenue on their own.
Using YouTube’s ad revenue sharing program, creators receive 55 percent of the ad revenue that is generated by their videos, which amounts to an average of $18 per thousand views for creators.
Afterwards, that small amount has to be divided among the artists, labels, and others involved in the process.
There is no doubt that clips supplement audio income, however, and might even increase exposure for musicians in the long run.
It is also important to find new sources of income since there is a lot of pressure to do so.
It was reported earlier this year that Spotify laid off a significant portion of its staff, including 200 people in its podcast team, as the company struggled to cope with both a rough global economy as well as business missteps.
Unlike podcasts, which require a large team of producers and engineers to produce, music videos could improve the company’s finances without requiring a big production team.