- Spotify is eyeing up live concert streaming
- It's part of the company's strategy to shift more into video content
- YouTube is still leading on the livestream front, and I think it'll be tough competition
Spotify is doing all it can to move beyond being just an audio platform — now it wants to offer live concert videos for subscribers, and I’m not sure how to feel about it.
According to Bloomberg , the audio streaming giant has plans in the works to become “a hub for live music”, and has reached out to concert promoters to secure licensing rights to broadcast live videos of music festivals right from the Spotify app.
Spotify has recently been experimenting with concert videos, adding a slew of pre-recorded music videos from Dua Lipa’s show in Mexico City, accompanying a live album released by the artist. Additionally, Primavera Sound festival took place in Barcelona over the weekend, which has gained substantial popularity and following online over the recent years — so it makes sense as to why Spotify would want to capitalize on this.
The move into live concert broadcasting reflects Spotify’s evolving plans to become a pipeline between artists and their most dedicated fans. A few weeks ago Spotify unveiled its new in-app tool Reserved, a concert ticket-reserving tool that aims to give legitimate fans top priority for securing tickets to their favorite musician’s live shows. On the other hand, the move into live concert streaming plays into Spotify’s wider video monetization strategy.
Spotify first started out as an audio-only service, but over its 20-year lifespan it’s rolled out many visual components from short-form content feeds to music videos, and even video podcasts. Not only have these helped increase subscriber engagement levels, it’s also established a more profitable means of ad revenue that Spotify doesn’t quite get through its audio content and this is reflected in the company’s recent quarterly earnings, as Bloomberg highlights.
In the first quarter of the year Spotify’s total advertising revenue saw a drop — The Next Web reports that it fell 5% year on year to €385 million (roughly $443 million) — therefore adding more video content means higher advertising rates and a better chance at boosting this profit.
That said, some see Spotify’s venture into live concert broadcasting as just another means of reducing artist’s streaming revenue — but that’s not the first concern that crossed my mind.
YouTube, always and forever
Spotify’s video offerings aren’t my favorite ways to engage with music. Compared to Apple Music, I find Spotify’s music videos interface to be unorganized and almost forced upon you while listening to audio (I never use the ‘Switch to video’ button).
I’ve said it before and I shall say it again, YouTube is still the holy grail of visual music content, even if Spotify is still doing all it can to compete. You have to give it to Spotify though, it’s drive is undeniably admirable, but competing with YouTube is like attempting to shade the sun.
In addition to its slew of pre-recorded live music channels (I watch a lot of NPR Tiny Desk Concerts as well as artist music videos) YouTube plays a huge part in bringing fans closer to the biggest music events across the world. This is most notably the case for the Coachella music festival in California, which I’ve been streaming via YouTube since I was 17.
Spotify has a lot to think about, and for its live concert broadcasts to stand out it needs to match, or totally defy what YouTube has. As well as this, there’s also the question regarding where in the app these broadcasts will be situated — the app is already bulky as it is, so an entirely new live stream interface would be a bit of a squeeze.
With that being said, I can see the minor user benefits. Depending on which artists sign on to this agreement, it could give music fans a higher quality, more robust way of consuming live concert content as opposed to relying on watching videos posted to TikTok or Instagram reels.
Right now, my feed is inundated with content from Ariana Grande’s Eternal Sunshine tour which kicked off over the weekend, and it’s making me regret not going for tickets. I have no issues with watching clipped videos on social media, but thinking about it now, having an accessible live stream of the show from start to finish would make good background viewing/ listening. But let’s be real, Netflix works an awful lot faster to sign deals with artists for live concert movies, and that’s essentially the same thing.
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