Spotify’s decision to offer video content is a reminder of how tough it can be to make money with music subscription services — especially compared to the video subscription business.
On Wednesday, Spotify unveiled changes to its strategy, which now includes video clips from the likes of ABC, Comedy Central, ESPN and Vice Media.ย Spotify Founder and CEO Daniel Ek described it as a “deeper, richer, more immersive Spotify experience.”ย He could have added “more lucrative.”
It’s no secret Spotify would love for more of its users to pay $9.99 a month for ad-free music access.ย As of January, roughly 15 million people worldwide were paying for that access.