Steel yourselves: Spotify has been rumored to soon join the fray of video streaming content along with Netflix, Amazon Prime Instant Video and Hulu Plus.
Two sources of BusinessInsider.com said that Spotify “intends to become an on-demand music and video service.”
This move would immediately put the company in competition along with Netflix and HBO.
One student at Sam Houston State University doesn’t think the move is necessary.
“I don’t think they really need to do it,” sophomore student Catherine Pope said. “Their music service is good enough. There are just a lot of other providers that already have good shows to watch. So I don’t know how well that would turn out.”
Senior Brian Howard said he thinks the move is a great idea because it helps Spotify diversify.
“It’s a good move for the competitive market,” Howard said. “If they just stick to music, they’ll stay stale. And when you stay stale, you fall behind.”
For some, this news comes as no surprise. Spotify is worth $3 billion thanks to several rounds of investment from Coca-Cola and Goldman Sachs. When multi-billion dollar media services like iTunes are successful in music, the companies that own them branch to video content to increase their profit.
Spotify has also been rumored to bring original content to their video service as well. The sources from BusinessInsider.com said that Spotify is “looking for partners that can help it fund and create original content.”
Spotify has not commented on the rumors.