Spotify explores paying YouTube video creators to share content on its platform

Spotify is pushing to attract video creators by offering financial incentives and marketing support as per Bloomberg. 

The company is offering deals that can reach up to seven figures for creators to host their shows on its platform. However, the amount of money Spotify will offer will be based on the creator's appeal and influence. 

As part of the deal, some creators will be asked to share their content on Spotify for free. In return, Spotify will give marketing support to enhance the visibility of their shows. 

According to Bloomberg, these deals do not require exclusive content rights from creators. The primary goal is to increase the video content library on Spotify, rather than to boost advertising revenue.

Spotify's spokesperson stated, “We’re always looking for opportunities to grow the video catalog for our users.” They claimed that while video content on their platform is growing, their practice of working with creators on video shows has been ongoing for years, with details of these partnerships remaining confidential. 

This isn't Spotify's first major investment in attracting creators. In 2019, the company acquired podcast platforms Gimlet Media and Anchor and spent over $1 billion on related deals. 

In 2020, the platform also partnered with podcasters such as Joe Rogan, and “Emma Chamberlain, a creator known for her YouTube work, launched a podcast with the service that includes video episodes.”

However, Bloomberg reported that moving video content from YouTube to Spotify could be challenging for independent creators, who may need to increase their workload to manage distribution on both platforms. 

Creators will need to manage their distribution independently due to the lack of a tool for simultaneous uploads to both YouTube and Spotify.