Mar 28, 2013

Spotify To Compete With Netflix, Amazon Prime and HBO Go

Spotify Logo
 (Photo credit: Wikipedia)
In an attempt to branch out from the streaming music business that is already dominated by companies like Pandora, Spotify is thinking about breaking into the streaming movie business....dominated by Netflix, Amazon and HBO Go.

From The Huffington Post:
There may be too much competition in the streaming-music game for Spotify to hang on for a whole lot longer. So what's a company to do when the market is oversaturated? Enter into another oversaturated market, of course! In an effort to compete with popular streaming video services like Netflix, Amazon Prime, and HBO Go, Spotify discussing to creating a streaming video service, according to a report from Business Insider's Nicholas Carlson.
According to Carlson's report, Spotify is planning to take a cue from Netflix and stream both existing television series and original ones after the success of Netflix's House of Cards. It remains unclear whether or not Spotify's video service will include movies. CEO Daniel Ek didn't shoot down the rumors point-blank, telling CNET in an interview on Monday: "I won't rule it out because we're a company that looks at what we're doing incredibly long term. But right now, we're all focused on music."
It may be a tough climb for Spotify though to rise up to the level of Netflix, Amazon and HBO who not only are trusted names in the entertainment industry, but they also have way more money than Spotify who only has the measly net worth of around $3 Billion.

What do you think about this? Are you a Spotify user? Would you want to use their service? Why or why not? Let us know in the comments.
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