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Spotify abandons original video

October 31, 2017 10.48 Europe/London By Julian Clover

Spotify is abandoning its investment in original video as the online music service looks for new revenues outside of its core business.

Bloomberg, citing people with knowledge of the matter, reports Courtney Holt, the Swedish company’s new head of video and podcasts is looking for a new and unique format.

Spotify first introduced video in May 2015 with the intention of supporting its core video business, rather than taking Netflix and Amazon head on. Subsequently, video partnerships were announced with, amongst others Turner, Disney, NBC, Condé Nast and WNYC Studios.

Now original series are to be cancelled including those on the slate that have yet to be released.

More than half of Spotify’s customers simply take its free service with advertising only drawing 10 per cent of revenues.

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Filed Under: Newsline, TV Tagged With: Spotify Edited: 31 October 2017 10:48

About Julian Clover

Julian Clover is a Media and Technology journalist based in Cambridge, UK. He works in online and printed media. Julian is also a voice on local radio. You can talk to Julian on Twitter @julianclover, on Facebook or by email at jclover@broadbandtvnews.com.

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