Spotify Has Its Sights Set On Video Streaming

As the competition for music streaming profits continues to ratchet up with the introduction of Tidal and Beats, Spotify has begun to "aggressively" pursue an expansion into video streaming, according to the New York Times. The paper reports that the Swedish streaming company has begun courting a number major television networks (such as NBCUniversal, Fox and Viacom) and magazine publishers (Vice and Conde Nast) that might partner with Spotify as a host for their video content. A move like this could help Spotify retain eyeballs that might otherwise wander to YouTube to watch, say, Fetty Wap's late night performance, or Tidal for their Rihanna exclusives. This is believed to be the "some news" that the company plans to share with the media at their event on May 20 in New York. YouTube, what's your next move?

Photo credit: Mario Tama/Getty