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Streaming Giant Spotify Branches Out Into Video

Streaming Giant Spotify Branches Out Into Video

Spotify will now offer video, alongside podcasts, radio and news, the music streaming company has announced.

At an event in New York, Spotify demonstrated the "video capsules" that will run on the new version of the platform, from companies including Vice News, Comedy Central and ESPN.

The short clips are closer to the content offered by YouTube than they are to longer form video on services like Netflix.

Spotify CEO Daniel Ek described it as a "massive leap forward".

The new platform puts more emphasis on playlists designed for times of the day, including music but also news and video.

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Mr Ek called it a "a seamless mix of music and shows".

He said that Spotify was responsible for more than half of all global streaming revenues, but the platform is facing up to some stiff competition in the music streaming market.

Jay Z relaunched Tidal, a paid-for streaming service in March , offering up exclusives from artists not available on Spotify.

Mr Ek was keen to show how Spotify has benefited small musicians in particular, a pointed remark given the criticism that Tidal has face for seeming to focus on already wealthy musicians.

He mentioned that Spotify has now streamed 25 billion hours of music - equivalent to three million years.

The move also bolsters Spotify ahead of Apple's expected launch of a dedicated music streaming service.

Including podcasts brings Spotify in line with iTunes, and Ek also announced that musicians including Iggy Pop would curate playlists.

Apple has been hiring DJs including Zane Lowe, formerly of BBC Radio 1, to curate its services.

Spotify also unveiled other new features, including running playlists based on a users' speed, using the iPhone's accelerometer, and tracks that can change their BPM (beats per minute) to match a user's pace.

Spotify has 15 million paying subscribers, but recorded an operating loss of £119m in 2014, on revenues of £777m.