I don't understand why they would move to video. Why not take the concept but apply it to their current business model along with a splash of Amazon's ebook business model?

In other words, fund and produce music exclusively for Spotify. Pay some big and/or some up-and-coming names lots of money to go exclusive. Then change the payout for bands that self-publish through Spotify.

This breaks the music publisher's stranglehold while seeming far less risky than going straight up against Netflix, HBO, and Amazon in original video content streaming.