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Spotify is making a pitch to YouTube creators to bring their video content to the audio streamer in an effort to rebrand the platform as a streamer for both the eyes and the ears.
Why It Hits: Spotify has been dipping its toes in the video world with its podcast hosts over the past year, but the push to attract YouTube creators comes just as YouTube itself is trying to woo podcasters. At the end of the day, companies don’t want to be siloed in any one media.
Between the Lines: Spotify isn’t afraid to open its wallet when it wants to enter a new space.
- The company is reportedly offering top YouTube creators seven-figure sums to put their content on Spotify, either through simple payout deals or non-exclusively selling ads on them… which gives creators a lot of leeway.
- Some deals are a bit more scaled down, such as asking creators to simply put their shows on the platform for free, but promising marketing support to expand their audiences.
- Spotify apparently doesn’t want to own any of the shows — it just wants volume on the platform so that it can deploy its new video-advertising tool.
The Future: Spotify is already making huge waves in video, with the company reporting that over 170 million users are watching content on the platform (mostly that of podcasters like Joe Rogan and Emma Chamberlain). No wonder the brand showed up to the NewFronts conference this year. They want to plant their flag in the space. But with creators already managing content on YouTube, TikTok, and Instagram, Spotify will likely need to roll out a tool that makes use of both its audio and video capabilities in a novel, integrated way to get creators posting.
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