Spotify Begins Offering Licensed Video; Is Audio Platform Moving Into Video Streaming?
The addition of free, ad-supported video content from Cineverse is just the latest evolution of Spotify.
Is there room in the streaming marketplace for another video service? Most conventional wisdom these days seems to point in the opposite direction; the onset of new streaming bundles shows that many executives think now is the time for consolidation. But Spotify looks to be moving in the opposite direction and announced on Tuesday that it would be welcoming video content from Cineverse that users of the otherwise audio platform will be able to watch.
Key Details:
- Titles coming to Spotify include “Dog Whisperer with Caesar Milan,” comedy specials and more.
- The music streamer is planning to offer more premium subscription options going forward.
- Video related to podcasts offered on Spotify makes the most sense for the platform to import in the future.
Spotify will roll out its new video options for subscribers very soon; if they don’t see the content already available. The titles being offered on Spotify come from Cineverse’s free ad-supported TV (FAST) channels, as well as its on-demand content library. Titles available will include “Dog Whisperer with Caesar Milan,” “The FBI Files,” comedy specials from Jeff Dunham, Jim Gaffigan, Eddie Griffin, Tiffany Hadish and other comedians, and more.
“As streaming platforms and device companies continue to expand to provide consumers more and more options to enjoy content where and when they want it, it was natural for us to explore distribution with Spotify,” Cineverse EVP Marc Rashba said. “As we have learned from the success of the Cineverse Podcast Network, Spotify has a massive reach and value, and we are now in a strong first-mover position to take advantage of this new opportunity.”
There is a clear demand for at least some form of video on Spotify. The company said in its press release announcing the deal that it now offers more than 250,000 video podcasts and that over 170 million people have engaged with video on its platform to date. The service also hosts clips and music videos, but this is the first time it has expanded into full TV shows.
Will Spotify Try to Become a Full Video Streamer?
There’s reason to believe that Spotify will continue to evolve in the video space. As reported by ZD Net, in the company’s second quarter 2024 earnings call, Spotify executives said that the company wants to introduce a more premium option, which could include high-fidelity audio and more tools for listeners. Could it also incorporate more video options?
Ultimately, I think there’s a good chance that Spotify will add more free video content in the future. The first round of titles from Cineverse clearly seems like an experiment to test the viability of video on a platform mostly known for audio streaming, but if it goes well, there are plenty of other options available. Cineverse has tens of thousands of titles in its library, and there are certainly other streaming platforms with just as many shows and movies that would love to partner with Spotify.
There are natural cross-overs for video on Spotify, particularly considering the number of TV and movie podcasts available on the platform. There are also clear opportunities for Spotify to add music-related video content, such as concert performances or documentaries.
I don’t believe that Spotify will attempt to move into a space where it’s trying to license popular contemporary shows and movies, however. The video streaming world is crowded enough with subscription video services that offer new, original, and premium content, and Spotify would have to build its reputation as a video streamer from the ground up in these conditions. However, growth and expansion are clearly on the company’s corporate game plan, so it does feel at least possible.
It will be intriguing to see where Spotify goes from here in its attempts to bring on more video options. This partnership with Cineverse could be just the beginning for the audio-first platform, even if I don’t think it will try to end up competing with the likes of Netflix and Prime Video in the video space.
Amazon Prime Video
Amazon Prime Video is a subscription video streaming service that includes on-demand access to 10,000+ movies, TV shows, and Prime Originals like “The Lord of the Rings: The Rings of Power,” “Jack Ryan,” “The Marvelous Mrs. Maisel,” “The Boys,” and more. Subscribers can also add third-party services like Max, Showtime, STARZ, and dozens more with Amazon Prime Video Channels. Prime Video also offers exclusive live access to NFL Thursday Night Football.