Spotify is reportedly canceling its current slate of original TV shows

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Spotify is pulling the plug on its original video efforts and heading back to the drawing board, according to a report today from Bloomberg. The company isn’t leaving video altogether; Spotify plans to reboot the initiative, marking just the latest shake-up in a meandering, and at times uncertain, gamble on original content. Current original video series won’t release new episodes, and unreleased shows currently in the works are being scrapped. Going forward, Spotify plans to work on crafting video formats that are unique to the music streaming service’s platform, Bloomberg reports.

Due to music royalty and other licensing costs, streaming on its own is a costly business with razor-thin margins. More than 80 percent of Spotify’s entire…

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