Spotify is all set to reveal its "new direction" at the "What's next for Spotify" event in New York and the rumour mill has worked itself up into a frenzy trying to work out exactly what the music streaming giant might announce.

There's big money being bet, from the Wall Street Journal no-less, that the event could all be in aid of a Spotify app store, which would be "Facebook-style" and one that would "add various features and functions to its popular online-music service".

Its report mentions an app finder tool that will include goodies such as direct Spotify playback from review apps, lyrics for karaoke sessions and live gig listings sitting alongside the streaming action.

This would make sense as, back in August, the company announced Libspotify for iOS. This gave iOS developers the power to create apps that include Spotify features. So, an extension of the API isn't too wild a guess we don't think.

Other possibilities include a Spotify radio setup. StrategyEye has stated that a radio service will be announced "in a bid to widen its appeal to the US market, where radio remains a hugely popular format for music". It says that the platform makes "financial sense for Spotify, as the relevant licensing would come to a fraction of its streaming costs".

We're also hearing suggestions of an iPad native app - which would be lovely - with the function to buy tunes straight from your Apple tab.

An early rumour, that kicked up when the invites went out but has failed to make significant noises since, is the chance of a Spotify video streaming service; whether that be movies or just music videos. We'd rule out the former, but the latter definitely wouldn't surprise us.

Whatever the outcome, you'll be sure to read all about it here on Pocket-lint. We'll be all over the New York event like a rash. Well, like a rash that's about 3,400 miles away and watching a stream at a London-based event, at least.

It kicks off around 5pm UK time.

In the meantime, why not check out our Spotify for Sonos review