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Spotify Adds Videos to Music Streaming in Push for More Ads

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(Bloomberg) –- Spotify announced plans to become more than just a streaming music service. The company is adding podcasts and videos that will now be available in the US, UK, Germany and Sweden. Here is everything you need to know about the Spotify event in 80 seconds. (Source: Bloomberg)

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Spotify Ltd., the world’s largest subscription music-streaming service, will add podcasts and video content to attract more advertising revenue and fend off competition from Apple Inc. and Google Inc.

Chief Executive Officer Daniel Ek announced the new offerings at an event Wednesday in New York, highlighting videos from the online media outlet Vice News and TV channel Comedy Central. The videos will complement the Swedish company’s lineup of songs and other audio programming.