spotify 24 million active 6 million paying 640x432Spotify is probably well-known to music lovers as a service in which they are able to stream songs. However according to recent rumors, perhaps streaming songs isn’t enough for the company and word has it that perhaps videos might be next on the list. Sources have indicated that Spotify is currently on the lookout for partners who can help them fund and create exclusive content for this alleged new service. If this is true and Spotify’s new venture takes off, this would pit them against the likes of Netflix who not only offer movies owned by movie studios, but who produce video content of their own, such as the original series House of Cards.

The reason behind Spotify’s alleged interest in video is because they aren’t making enough money from music alone. Since the music is owned by the major labels, a large chunk of royalties are instead paid to these labels rather than to Spotify, so we guess if Spotify were to create its own video content, they would be able to pocket most of the profits made from there. With the rise of smartphones and tablets, streaming videos and movies on the go has never been easier, although at this point in time we suggest you take this rumor with a grain of salt, but what do you guys think? Anyone interested in seeing Spotify start to offer video streaming as well?

Filed in Rumors >Web. Read more about Netflix and spotify. Source: au.businessinsider

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