Spotify has surged on the stock exchange in the past week following a quarterly report that exceeded analysts' expectations. Now, the company is taking on YouTube and launching a new video initiative.
The company has previously made a larger investment in podcasts. The new initiative involves video podcasts, which paying users will be able to watch without ad breaks, the company announces in a press release.
Spotify is also introducing a new system for paying video podcasters.
In connection with the video initiative, the company's podcast service "Spotify for podcasters" is changing its name to "Spotify for creators". The service will be rolled out in the first stage in the USA, the UK, Australia, and Canada.
According to the company, interest in video podcasts has increased significantly. Currently, there are over 300,000 video podcasts on Spotify.
