Spotify’s core business is music streaming, and while the company is more or less at the top of their game right now, music industry veteran Jimmy Iovine has pointed out in the past that companies such as Spotify are too reliant on streaming to make money, and that is apparently dangerous.This is because unlike other companies like Apple, Google, or Amazon, Spotify has no other form of revenue. However, earlier this year it was reported that could change as Spotify could be looking to launch their first hardware, and sure enough they have. The company has taken the wraps off what they are calling “Car Thing” which is a device aimed at streaming music in the car.
Now before you get too excited, Spotify states on its website that at the moment, Car Thing is still very much a prototype and that they have no plans to make it available to customers just yet. However, they will be testing it out to see how it works in real-life, which we suppose will then determine if the company how they want to best proceed.
According to Spotify, “While we know there has been some speculation about our future plans, Car Thing was developed to help us learn more about how people listen to music and podcasts. Our focus remains on becoming the world’s number one audio platform—not on creating hardware.”
At the moment, platforms such as Apple’s CarPlay and Google’s Android Auto already provide ways for users to stream music in their cars, so it will be interesting to see if Spotify could come up with something that would make it more compelling.
Filed in . Read more about Entertainment, Music and Spotify. Source: newsroom.spotify