There have been recent rumors circulating the world wide web about Spotify’s plans to unveil something bigger and better. No, it’s not free music, but something entirely different. The company is planning to get into the streaming video business, ala Netflix. This move, if it’s true, will make Spotify a direct rival to Netflix and other streaming sites like LoveFilm, Hulu, etc.
According to reports from Business Insider, Spotify is planning to spread out of it’s music business, and tap into the streaming video market. This move is not just like making another mediocre video streaming site, they are also looking forward to providing subscribers with exclusive TV shows, similar to what Netflix did with House of Cards.
Spotify is already in talks with certain production houses, and is looking for partners to add some exclusive shows to its catalog. They will have to introduce other interesting content as well to keep their subscribers interested in the service. So, in order to secure their future Spotify will definitely have to come up with original content instead of relying on something that’s already out there.
Netflix’s exclusive show was House of Cards, a show that cost it nearly $5 million per episode. But, keep in mind that Netflix is using the series to keep their subscribers hooked and coming back for more.
There are still no words on how Spotify will enter the video on demand market. We’re not sure if it will be able to do any damage to giants like Netflix, however it might take away some of their subscribers. The key here is to introduce as much original content as possible, because all other services offer pretty much the same content. So, at the end of the day, original content will give Spotify an edge over its competition.
Is it a good move for Spotify to offer Video on Demand? Let us know what you think!