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Spotify hosted their version of an Apple-style product launch this week during their Steam On event. During the virtual program, which livestreamed on Monday, they broke down the power that audio has, the journey of music creation, and all the opportunities they have planned for both creators and the billions of fans who use their platform. One of those new features is the introduction of Spotify Clips.  

The format will look familiar because, just like Instagram, Spotify is drawing influence from Snapchat with the implementation of an ephemeral video format. The feature has been in the works since last year, when it was tentatively titled "Storyline," but its beta testing phase was designated only for a few big names, like Kelly Clarkson and Jennifer Lopez. As of today, the tool remains exclusive to artists. 

Spotify Clips was one of many new features to be added to the streaming giant's platform. Another standout was the announcement of "Spotify HiFi," the company's new streaming tier that delivers music in CD-quality, lossless audio format. Also highlighted were expanded capabilities of Spotify's patented Canvas tool as well as feature called Marquee, which will host full-screen, sponsored recommendations for advertising new releases. 

You can watch the full Spotify Stream On event below. 

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