Does Spotify want to be the next YouTube?
It might be a tall order for a music streaming service, but there’s no doubt the Sweden-based company wants video to become a bigger part of its platform, and so far its efforts have proven successful of.
As of the last count, more than 170 million The number of users streaming videos on Spotify is up from 10 million in 2019, and the number of monthly active users participating in video podcasts has also increased significantly 60% Year after year.
Supply grows as demand grows. The number of video creators on the platform has surged 50% In the past year, there are now more than 300,000 Video Podcasts on Spotify.
This all translates into greater engagement on the platform. The average time users spend on Spotify has increased from about 30 hours per month in 2020 to nearly 40 hours today.
Now, Spotify is launching a slew of new features to increase engagement with videos and attract video creators to its platform.
in its Now playing The company unveiled the new product at an event on Wednesday (November 13) in Los Angeles Spotify Partner Program Provides multiple revenue streams for video and audio creators to monetize their content.
Creators earn money every time a Spotify revenue-generating ad plays during an episode, whether on or off the platform.
“All creators have to do is tell us where they want their ads to appear, and we’ll take care of the rest,” Spotify wrote in a blog post.
Creators can also earn revenue from premium subscribers through the new program. Spotify said paying subscribers who stream videos will not receive dynamic ads, but content creators will be paid “based on how much content fans stream.”
MBW It is understood that this new payment model will not affect the payment of music royalties. Although different content types can be accessed through a single subscription, each has its own business model and separate revenue streams.
Spotify also apparently believes that its new move to expand its video content will benefit music rights holders, as it expects to bring in new paying subscribers who will also listen to music.
It’s worth noting that the new partnership program will be open to both audio and video creators – because Spotify believes that in the emerging “multi-format” media world, the difference between the two is getting smaller and smaller.
“We’re seeing some shows that were primarily audio shows branching out into video with special episodes,” monetization expert yellow matt Said in Now playing event. “This program will help them monetize all different types of content as they try and figure out what works for them.”
The Partner Program is now open to eligible creators in the US, UK, Canada, and Australia.
Spotify is also getting into short films, allowing video creators to upload their own short films Tik Tok, YouTube clipsand other short video platforms. The editing feature is currently available in a limited number of markets including the United States, United Kingdom, Canada, Australia, New Zealand, and Singapore.
But Spotify made it clear, “Our goal is not to make our platform just another place to watch short-form content. We want to help people find their next favorite show they can listen to or watch immediately, ultimately driving more full-length episodes.” of playback.
“Our goal is not to make our platform just another place to watch short-form content. We want to help people find their next favorite show that they can listen to or watch immediately, ultimately driving more full-length episodes.
Spotify
Creators can now also upload video thumbnails, whether generated by Spotify or created themselves.
Additionally, Spotify has redesigned its analytics dashboard to make it easier to access key metrics such as changes in follower count, number and length of streams for recent episodes, and exposure to creator content that converts into listeners Ratio of people/audience.
Spotify 還增強了觀眾端的視訊體驗，在整個應用程式中添加了個人化視訊推薦，對視訊章節和捏合縮放等播放進行了改進，啟用了評論，並添加了以下過濾器，以便用戶更輕鬆地觀看video.
The new video feature was announced the same week Spotify reported third-quarter earnings, which showed that the number of paid premium subscribers rose to 252 millionup 12% annual increasean increase of 6 million from the previous quarter.
The company is expected to report its first-ever full-year profit. Operating income for the third quarter was €454 million ($499 million), Spotify currently forecasts full-year operating profit of 1.37 billion euros (about. US$1.5 billion) in 2024.global music business
