Industry news

Video streaming next target for Spotify founder

Daniel Ek is understood to be considering developing a new website to stream video content following the success of his last creation.

Mr Ek is the founder of Spotify, the media streaming site that offers users the chance to listen to music of their choice for free with only brief interludes for adverts.

A move into the video streaming world could result in serious competition for Google's YouTube, which is currently the largest supplier of video streams.

Speaking to the Register, Mr Ek said he would not rule out using the business model currently employed by his Spotify website and applying it to other forms of media streaming.

However, he admitted that the initial media streaming service had taken time to find its feet, with the organisation earning on average just 14 pence per user.

Spotify has proved a big hit with internet users, allowing people to listen to tracks and artists of their choice via an on-demand service.

"Forget about the hassle of waiting for files to download and fill up your hard drive before you get round to organising them. Spotify is instant, fun and simple," the website explains.