Spotify Plan To Stream Video Content

Music streaming service Spotify is planning to enter the web video business and add visual content to the system.

According to the Wall Street Journal, the Swedish founded music service has been in discussions with several digital media outlets, including companies that specialise in making content for YouTube. 

The report says that Spotify could announce its video service plans as early as this month, however the company has declined to comment.

To add further speculation, the company today announced a major media event on May 20 in New York, with no details given other than the teaser: "We've got some news".

It would no doubt open many doors for the music service, which is reported to have 60 million active users a month. 

And while it has done wonders for artists and fans alike, not all appreciate its services. 

Last year, pop megastar Taylor Swift removed her entire discography from the service because she believes it is hindering the music industry. 

“I think there should be an inherent value placed on art, I didn’t see that happening, perception-wise, when I put my music on Spotify” she said in an interview with Time Magazine. 

“Everybody’s complaining about how music sales are shrinking, but nobody’s changing the way they’re doing things. They keep running towards streaming, which is, for the most part, what has been shrinking the numbers of paid album sales.”

Ironically, her best buddy and Brit artist Ed Sheeran disagreed with Swift's acts, saying that Spotify is a great way for people to hear new music. 

In an interview with 2dayFM, the Thinking Out Loud singer said: "I played to a crowd [at the Glastonbury Festival] that knew all the words to all the songs that had only just come out that week...it’s because kids were just going on and Spotifying and listening and it really helps an album get out there."

Last month Spotify announced that Sheeran was the first British artist ever to hit two billion streams on the music service.