According to a new report, music service Spotify will take on Netflix and HBO when it rolls out a new streaming video service. And, like the model Netflix is pioneering in an effort to compete with premium networks like HBO, Spotify will reportedly invest in its own original content.
Recently Netflix, who had previously only licensed TV shows and movies from other studios, debuted its first original series, House of Cards, made exclusively available to Netflix subscribers. In the coming months, Netflix will also debut their reboot of the series Arrested Development. Even though original programming is infamously expensive to create (Netflix reportedly invests $5 million per episode for House of Cards), Spotify has deep pockets—the company was recently valued at $3 billion …
