Spotify says it is committed to providing video content

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Spotify says it is committed to providing video content despite ending its licensing agreements with a number of major media partners, including ESPN and Vice. Since announcing video content in May of 2015, Spotify has invested around $56 million in the service. Indications are Spotify will create video in-house.

A new Piper Jaffray survey of U.S. teens suggests online video platforms have edged out cable TV as the go-to for video content. It found that, for the first time ever, more teens accessed video through YouTube (26 per cent) than cable TV (25 per cent). In a similar survey a year ago, 29 per cent chose cable. Netflix came out the big winner with 37 per cent saying they watch the streaming service daily. Only three per cent said they consume video using Hulu and Amazon Prime.