Spotify is rumored to work on a video streaming service to compete with Netflix and HBO. Spotify CEO Daniel Ek says though that video is not in the cards for a long time.
CNET carries statements from Spotify CEO Daniel Ek that shoot down this rumor. Spotify is not ruling out to build a video service, but not anytime soon. It does make sense as Spotify has its hands full making the music service a viable business. It is also not the case that streaming video services are a gold mine. Netflix is struggling to make it work.