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Spotify Takes on YouTube, Works on Video Sharing Service

Spotify Video Sharing Service

The Swedish music streaming company has really started to shine in the past couple of years, and now it’s looking to expand into uncharted territory by showing its video sharing capabilities.

YouTube has been around one year longer than Spotify, but that doesn’t mean that the latter couldn’t pose a threat to Google’s video sharing service. Apple’s rumored Beats Music was supposed to be the Swedish company’s main target this summer, but now it looks that it’s looking to fight on multiple fronts at once. As diving right into a new industry would have been risky, the music streaming startup has made some preparations by establishing some strategic partnerships.

“Never put all your eggs in one basket,” is an expression that applies to business more than one would think. Sure, Spotify has millions of users (more precisely 45 million ad-supported users and 15 million subscription users), and during the past quarter alone has generated great revenues, but it has yet to make a profit. One could say that the music streaming industry is getting quite crowded, with Jay Z’s Tidal and Apple’s Beats Music breathing in Spotify’s neck, so jumping into a new bandwagon would be the next logical step, even though there are plenty of veterans when it comes to video sharing, too.

YouTube currently has a market share in the US of 73 percent, so Spotify will have to put on the big boy pants, if it really wants to represent a challenge. On the other hand, the Swedish company might want to focus on some sort of niche that hasn’t yet been exploited by the others.

The Wall Street Journal claims we won’t have to wait that long to see what Spotify has in store for us. In fact, its new video sharing service might be up as early as this month, and then we’ll have to wait and see if their new product has what it takes to survive in this cruel, cruel world.

Competition can only be good for the customers, provided that the competitors stay alive long enough to make an impact. On the other hand, if Spotify decides to create a video sharing service just to complement its music streaming one, things might not look so good for the music industry, which has already been crippled by such services.

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Amazon Will Add Music Streaming Service as Sweetener for Prime Users

Amazon Music Streaming Service

Undisclosed sources close to the matter claimed on the condition of anonymity that the Chicago-based e-tailer might introduce a new music streaming service for its Prime users as early as this week.

It definitely looks like Apple and Google are not the only big boys who are interested in music, even though the Cupertino giant’s recent curiosity for Beats Audio, and the rumors regarding the search giant’s acquisition of music streaming service Songza might have suggested that. Amazon is looking to launch a music streaming service that won’t represent a threat to Spotify, Beats and Rhapsody, or at least at first.

The e-tailer made a habit out of launching various services along with its new devices, so the music streaming service might be the one in the case of the mysterious device that’s up for launch in a week from now. Since that product is believed by the entire world to be the 3D smartphone Amazon has been working on for a while, a music streaming service makes a lot of sense.

The sources claimed that the music streaming service will be offered in a first phase exclusively to Prime users, who already use a video streaming service that competes directly against Netflix. Since the Prime service has 20 million users, the company shouldn’t be worried about getting an initial user base.

While the latest hits won’t be streamable, everything else from Sony Music and Warner Music Group will be available. Universal Music has yet to sign a deal with the world’s largest e-tailer, in this aspect. However, getting a limited (yet extensive) catalogue of songs without any annoying ads is quite nice.

An industry source stated the following, suggesting that the music industry really believes in Amazon’s move: “We wanted to support it. It is a steppingstone. It shows that music is a priority for Amazon.”

I wouldn’t say that music is a priority for the e-tailer, but at the same time, I think that Amazon did good to get involved in this industry, as well.

The Street even wonders if the rumors regarding Amazon’s music streaming service will affect in any way the company’s stock. That will depend quite a lot on how people perceive this move, as Facebook’s stock plummeted when the social network announced the acquisition of Oculus VR.

Be social! Follow Walyou on Facebook and Twitter, and read more related stories about the mysterious device that Amazon will unveil on June 18

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