Spotify Technology (SPOT.N) may offer full-length music videos to its app to compete with TikTok and Alphabet Inc.’s (GOOGL.O) YouTube, Bloomberg News said on Friday, citing sources.
Spotify allows musicians to upload looping GIFs that play during music tracks.
The article stated that Spotify, which offers over 100,000 podcasts with videos, has launched product discussions with partners.
It wants Gen Z viewers to leave YouTube and TikTok. YouTube Music streams music videos.
Spotify announced its second wave of layoffs this month, cutting 200 podcast employees as it restructures following years of heavy investment.