Spotify is negotiating with concert promoters to license livestreaming rights for music festivals. This initiative marks a strategic shift toward premium video content.
The company aims to transform into a comprehensive music hub by adding video alongside its audio and podcast offerings. This strategy follows YouTube’s success with festivals like Coachella, which attracts millions of viewers.
Livestreaming provides Spotify with new revenue streams. The move further integrates the platform into the live music ecosystem, which currently includes early access to concert tickets.