Netflix and Spotify are looking to hit a high note together, according to a new report. And that could have a major impact on the streaming industry.
Today, The Wall Street Journal reported that Netflix and Spotify have been having conversations to partner on live music award shows and concert series, with WSJ’s sources also adding that celebrity interviews and shorter documentaries are being discussed.
The news comes as Netflix continues a push into unscripted music programming, with the streaming giant already planning to reboot ’80s talent competition Star Search and rolling out Building the Band, a new competition show where musicians form bands before meeting each other. Additionally, the WSJ reported that another yet-to-be-revealed music competition will also be available on the streamer in the coming months.
Beyond music, Netflix has recently been investing in more live event programming, including its Jake Paul and Mike Tyson boxing match and the NFL games on Christmas Day, which featured a halftime performance from Beyoncé during the Houston Texans-Baltimore Ravens game.
With the streamer’s current slate in mind, experts see a potential Spotify deal as a way to broaden its offerings.
Music to analysts’ ears
Regarding a Spotify and Netflix partnership, Paul Verna, vp, content, eMarketer, told ADWEEK that both parties would benefit.
“It would give Netflix an entry into some of the most popular genres for TV and video audiences—reality shows and music-themed content—while helping Spotify expand its business beyond audio streaming,” Verna said.
Verna noted that Netflix has already dipped its toes into things it said it would never do, like launching an ad-supported tier or leaning into live sports programming. It also struck a deal with French broadcaster TF1, so another content partnership wouldn’t be surprising.
“This shows a company eager to experiment with new concepts to future-proof its business,” Verna added.
A Spotify and Netflix deal also effectively brings two streaming behemoths together, according to Brandon Katz, director of insights & content strategy, Greenlight Analytics.
The partnership would boost Netflix with more live programming that aligns with its “event status” strategy as it looks for “cut-through-the-clutter unique one-offs,” Katz said.
