Spotify Plots Netflix-Style Streaming Service

Spotify Plots Netflix-Style Streaming Service

Move over Netflix, Amazon Prime and Redbox. Spotify wants in on the streaming video action.

Spotify, known for its popular music distribution service, is plotting to compete in the streaming realm, Business Insider reports.

According to two sources briefed on the company’s plans, Spotify intends to become an on-demand music and video service – one that would invest in original content and compete heads-on with Netflix.

Ultimately, Spotify’s metamorphosis would also put it into competition with content creators and providers such as HBO.

It’s a risky move on a number of fronts. The aforementioned streaming sites do not have a well established business model to fall back on, although Netflix is clearly the market leader at the moment. The streaming arena is suddenly getting crowded, and it may take time before Spotify is able to attract, develop and stream compelling original content to help it stand apart from the crowd.

Still, it’s another reason for cable companies to worry as the streaming marketplace continues to expand, and a sign that streaming represents a growing way for consumers to watch content on their terms.

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