Spotify is heading in a new direction starting November 30

Next week Spotify will unveil some new updates for the music service. Let the speculation begin.

It’s easy to forget that Spotify remains an early addition to the American music scene, and even beyond that it’s still a relatively young company. The streaming service has taken online music by storm, with many thanks owed to its Facebook integration and the social networking site’s frictionless sharing.

But despite its success, Spotify is still quite new. No matter though, because it’s already going to shake things up. Today the site sent out event invites for November 30 that will answer the question “What’s Next for Spotify?”

The company is remaining tight-lipped on details, saying little more than the fact that there will be special guests, and the company will reveal a “new direction” for itself. Speculation seems to point toward the possible unveiling of its own MP3 store, which would swiftly follow the debut of iTunes’ iMatch and the official opening of Google Music.

An MP3 store would put Spotify in competition with both of these music retailers, and while they are both significantly larger companies, the streaming service has gotten a firm foot in the door and established itself as a contender. The major obstacle for a challenger would be content, which iTunes has a firm handle on and Google Music is continuing to secure. But Spotify has all four major record labels to buoy an MP3 store in the face of such strong competition–which is more than anyone can say for Google Music.