The music streaming service could be aiming to carve out a piece of the online video streaming market.

Though it’s yet to turn a profit as a music streaming service, The Wall Street Journal has reported that Spotify could be planning to enter the world of video streaming.

The Wall Street Journal’s sources claim that Spotify has been in recent discussions with several digital media companies about forming potential partnerships. As well as talking to companies that specialise in making content for YouTube with a mind to acquiring their material and working together to make original content, Spotify has also reportedly held discussions with some “well-known traditional media companies”.

Spotify hasn’t made any official statements on the news so far, but sources suggest the video service mooted by Spotify would be available to both subscribers and non-subscribers, and could eventually include advertising. Spotify will be holding a media event in New York on May 20, where it’s expected any confirmation of their plans will be announced.

The news comes in the face of fresh competition for Spotify from both Tidal – which has already delivered video content from its celebrity owners – and Apple, who is widely expected to unveil its own streaming service next month.

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