Tuesday, November 10, 2015

Spotify vs Snapchat- digital video vs digital music world or evolving overlapping core competencies?

Snapchat began as a platform with purely ephemeral content but has slowly evolved into offering digital media content with a twist. With more than 700 million snaps sent daily, it has garnered some serious market power. First, there were personal snaps sent to friends that lasted mere seconds before disappearing. Then there was the introduction of curated “stories," which last longer and can be broadcast to a wider audience, but those still disappear into the Snapchat ether after 24 hours. With January’s introduction of the Discover feature, Snapchat opened the doors to select media outlets, news channels and lifestyle brands. In the Discover section of Snapchat, users can peruse snack-sized content from places like CNN,Foodnetwork, Comedy Central, and National Geographic. And now that original content includes music videos. Snapchat just entered the music video house.
Indie artist, Goldroom, released four music videos this week on Snapchat’s Snap channel, which is accessible on the Discover tab of the app. Value added services around the music video releases include behind-the-scenes exclusive content, including making-of videos and interviews, all with special Snapchat share buttons. With over half of Snapchat users under the age of 25, debuting original and highly-produced content on this platform (a model quite similar to Youtube influencers) could be a game-changer for musicians.  And while Madonna released her new music video on Snapchat in February, what’s different and remarkable about this Goldroom campaign is that all videos are shot in vertical format to accommodate the way people hold their phones.  Traditional media is bending to mobile media in a serious way.
Cross platform digital marketing and content creation especially with Snapchat is the new area of exploration and monetization for other digital platforms. Trying to tap into the millennial userbase of Snapchat, many brands want in on the Discover section. But Snapchat seems to be competing with Spotify by entering the digital music world and Spotify seems to be competing with Snapchat by entering into video content. It’s turning into a race of the platforms to be the one stop shop of all digital services that can be provided. Who will win? The one with the most fierce arc of innovation is set to win in this league of digital platforms. Snapchat has proved its metal in innovation but so has Spotify! Spotify’s ascent hasn’t been as rocket ship-fast, but it’s hold in the market has been steady and consistent, as well as appealing across a wide range of demographics. It now hosts non-music content like podcasts and video, in addition to predicting what kinds of playlists you’ll be into and curating a running playlist that changes with the changing tempo of your workout. Spotify’s first innovation is using data to become more intelligent. It is using its massive amounts of data to predict and create playlists around what you’ve already listened to at specific times of the day .The second innovation is around its running feature which figures your running pace based on your phone’s sensors and changes the music in real time to align with that pace. Now its set to enter the digital video streaming space. Some video content will be exclusive and original from Spotify and others would include launch partners like Comedy Central, Vice News, ABC, BBC, ESPN, Elite Daily, and TED.Spotify is introducing an experience that’s more accessible, personal and more usable than anything in music. You'll be able to watch clips from shows like Broad City. But it'll be a full-screen experience, which you watch horizontally. It is set to compete with Youtube, Vimeo and other video platforms.

So which platform is doing better?or would they resort to cross platform marketing ? or the platform with the best technology takes it all away? This mobile war is definitely set to get more intense and crowded with many smaller apps and players coming into the battle arena. In the end it’s a play of innovation and technology which provide the best user experience that’s going to be the deciding factor for the market share leader in the space of digital video and music.

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