From Nasdaq:

Spotify is launching full-length music videos for premium subscribers, hoping to compete with YouTube. The videos will be available in select countries, including the UK and Brazil, as part of Spotify’s plan to reach 1 billion users by 2030.

This move comes as Spotify faces competition from Apple Music and YouTube, offering a limited catalog of music videos from global and local artists. Last year, Spotify introduced short clips, and it continues to expand its offerings to include podcasts and audiobooks to attract more users.

In February, Spotify forecasted reaching 239 million premium subscribers in the current quarter, exceeding estimates. The company’s expansion into music videos is part of its strategy to increase user engagement and diversify its content offerings.



Read more at Nasdaq: Spotify to test full music videos in potential YouTube faceoff