Spotify has reaffirmed its commitment to its video streaming service after deciding against renewal of its licensing agreements with several major media partners.
The streaming service was forced to intervene amidst speculation that it was withdrawing from the video market after dropping content from ESPN, Vice Media and others, insisting that it has invested some $56m in the service.
In recent months Spotify has sought to gain traction in this area by producing a range of new video content such as a Metallica documentary and a ‘Flash Frame’ show with Blink 182 as it seeks to produce the bulk of its content internally rather than license it from others.
A Spotify spokesperson told Music Business Worldwide spokesperson: “We’re one hundred percent committed to video and podcast content and exploring new and fresh ideas for our audience, and we have lots of great original content available now or coming soon, such as our Landmark Metallica documentary.
“We work with many different non-music content partners to develop and deliver content, and that roster of partners naturally changes from time to time.”