Spotify Targets Video Creators with New Deals

Spotify is making a significant move into the video space by offering seven-figure deals to video creators to distribute their content on its platform, aiming to compete with YouTube. The strategy seeks to attract popular creators from other platforms, allowing them to publish videos on both Spotify and YouTube simultaneously. Despite Spotify's history as a music streaming service, it recognizes the growing popularity of video content, with over 170 million users having watched video podcasts on its platform. The deals vary based on the creator's prestige and are not intended to lock in exclusive rights but rather to enhance Spotify's video catalog for its users. Additionally, the BBC is also adjusting its podcast strategy by making episodes available first behind a paywall on its app, although it still retains a significant audience on open RSS. As Spotify pivots back to spending on video content, this could signal a new phase in its content strategy following previous cutbacks.