BusinessInsider reports that Spotify intends to launch a video service to challenge Netflix & HBO with exclusive content. This is not the first time we hear about Spotify’s plans to move beyond music streaming and into video streaming.

Spotify to challenge Netflix & HBO

Spotify has become a beloved and well-known music streaming service within the tech community. Spotify is now planning a major ad campaign to go into the mainstream market.

Spotify is again rumored to expand its music offerings with a video service

But that is not all. BusinessInsider has talked to two sources who claim to know that Spotify is also planning to go into movies and TV series. Spotify is current looking for partners to help them fund production of exclusive content. Last time we heard about Spotify’s plans sources said that Spotify was in negotiations with HBO but they may very well have decided to produce its own content instead of licensing – or a combination.

We first heard the rumor two years ago when TechCrunch reported that Spotify had already reached deals with movie studios - but nothing has happened so far.

- Source: BusinessInsider