Video podcasts have become more popular over the last few years due to the rise of streaming services, and streaming giants like Spotify have certainly taken notice. Spotify has recently announced that they are investing big into developing and providing exclusive video podcast content.
Spotify’s move into video podcasts is a bold one. By offering exclusive video podcasts, Spotify is competing in the crowded streaming video market. This is a market that has already been dominated by giants like Netflix and YouTube, so Spotify will have some tough competition.
One advantage that Spotify has in this space is its already massive user base. Spotify currently has over 217 million monthly active users, which is far larger than most rival streaming services. This gives Spotify a much larger potential audience for its video content, as well as a strong foothold in the market.
The company is also leveraging its existing relationship with audio podcast creators by offering video podcasting options. This allows podcast creators to gain more exposure, while also providing the opportunity to monetize their content. Spotify has also launched its own virtual video studio, which will enable creators to conveniently produce their own video podcasts.
As streaming services continue to revolutionize the entertainment industry, Spotify is wading into the video podcast market. Its massive user base, strategic partnerships with podcast creators, and exclusive content are likely to put them in good stead as they work to establish themselves as a key player in the video podcasting space.