Spotify is concentrating on introducing new services to increase its revenue streams and subscriber base. Credit: Chubo – my masterpiece via Shutterstock.

Music streaming services provider Spotify Technologies is looking to add full-length music videos to its platform, reported Bloomberg.

The move could help Spotify compete more effectively with platforms such as YouTube and TikTok for the Gen Z audience.

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According to sources aware of the development, Spotify has already commenced talks with partners about the new product.

Spotify declined to comment on the development.

The new function would support Spotify’s expanding initiatives to make video a key component of its service.

Currently, Spotify enables artists to upload “canvases,” which are looping GIFs that last under 10 seconds and are displayed on the screen while music is playing.

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This March, it introduced “Clips”, short under 30-second vertical videos to give artists a storytelling tool to promote their music.

Additionally, the business introduced a brand-new music home screen that is reminiscent of TikTok and enables users to preview and swipe through surface videos before deciding to listen to an entire track.

Last month, it was reported that Spotify will launch a more expensive subscription offering following pressure from investors.

The new tier, which will be internally referred to as “Supremium,” will likely be the most expensive product Spotify has ever offered.

The development comes as Spotify is concentrating on introducing new services to increase its revenue streams and subscriber base.

Early last month, Spotify joined technology giants in cutting jobs by reducing its headcount by 200.