Spotify Might be Getting into the Web Video Business

According to the Wall Street Journal, music streaming company Spotify is planning to enter the very competitive Web-video business, and take on big players like YouTube and Facebook.

This anouncement may take place at a press conference in New York City on May 20th, but this has not yet been confirmed.

The WSJ communicated that Spotify is in discussion to acquire existing content from active networks e.g. on popular YouTube multi-network channels, and wants to lead creation of new content.

This may provide Spotify with another way to increase revenue, but we’ll have to stay tuned how this will effect artists and fans in the long run.

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