Seeking funding for original content; move would put it in direct competition with Netflix
Spotify looks set to become the latest streaming company to commission its own content; however, it looks like it won't just be music. It's also looking at moving into video if reports are to be believed.
According to Business Insider, the company is currently looking for partners that will help fund and create exclusive content. However, according to sources, it isn't just original music content the company is seeking funding for; it is also looking to commission original video content too.
Such a move would put it in direct competition with Netflix, which recently launched its first in-house commissioned and produced series House of Card (if you haven't checked it out yet, do. It's very good.)
It is unclear if these talks will involve another round of investment. The company is already worth £1.98 billion on paper, thanks to investments by companies like Coca Cola and Goldmach Sachs.