Despite rumors to the contrary, Spotify isn't looking to expand into video anytime soon.
CEO Daniel Ek said as much in an exclusive interview with CNET in which he admitted, "I won't rule it out because we're a company that looks at what we're doing incredibly long term. But right now, we're all focused on music."
That's a good thing because Spotify is doing well on that front. Music labels want the company to succeed, said CNET, and are willing to renegotiate the terms of deals that allow them to take a huge chunk of any revenue Spotify generates from online streaming.
What's more, Ek can't see himself competing with the likes of Vevo and YouTube, two titans he'd prefer to work with than emulate.
"If we did think we could make it better than YouTube or Vevo, then maybe," Ek said. "But it would seem easier to partner with them."
