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Tunesday Tuesday- Spotify to Diversify with Video Streaming-ify

Spotify payouts

This week, in honor of the Memorial Day holiday, we forgo a “Music Monday” for a “Tunesday Tuesday”- this time, looking at how one music service is taking legal music offerings to a new level. Spotify, the Swedish-based music streaming app, recently announced that it will be adding a video component as well, along with audio podcasts. Spotify has been a huge player in the music consumption industry that has (for the most part) evolved past purchasing music to own to streaming music online. The service, spotify-payouts-1 along with other streaming sites likes Pandora, have provided an alternative to downloading illegal music, and now, Spotify wants to step into “YouTube-territory” with video streaming. Whether this makes YouTube nervous or not, Carmen Parada of Universal Music notes that the primary goal of all of these types of streaming services, including Spotify and YouTube, should be to get people away from obtaining music by illegal means. “Streaming drives music consumption away from illegal platforms and into legal services,” she says. It remains to be seen how this will affect the industry as a whole, but the more legal options for consumers, the more money artists stand to make- a benefit that’s not hard to spot(-ify).

Check out the full article here: Music wars: why Spotify is defying YouTube with video streaming



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