Podsights helps marketers gauge the effectiveness of their
advertisements, one area that Spotify said has been a major challenge.
Chartable provides audience insights that help podcast publishers measure the
effectiveness of their growth campaigns.
Financial details of the transactions were not available.
"Our acquisitions of podcast technology players
Podsights and Chartable are helpful in our pursuit of up leveling digital audio
measurement insights," said Khurrum Malik, head of ads business marketing
at Spotify.
Stockholm-based Spotify has been investing heavily in
podcasts as unlike the music business, which is largely commoditised and low
margin as it pays out a part of the revenue to the rights holders, podcasts
engage listeners for hours on end, creating valuable advertising inventory that
has underpinned the optimism by Wall Street over its long term future.
Since it announced its "Audio-First" initiative in
2019, signaling its push into podcasting, Spotify has acquired podcast networks
such as Gimlet Media and Anchor, negotiated exclusive deals with popular
personalities including Joe Rogan and "Call Her Daddy" host Alex
Cooper, and invested in underlying technology.
Rogan has emerged as Spotify's most popular podcast in 90
markets, even as he has become a lightning rod for criticism for views on
COVID-19 and use of racist language. He has apologised and more than 100
episodes of his show have been removed.
Spotify has been working to modernise podcast advertising
through such features as the real-time ad insertion and acquisitions like
Megaphone, which helps podcast publishers earn more from their content. It is
hoping to capture a share of the $2 billion that eMarketer predicts will flow
into podcasting by 2023.
"We're really excited about bringing this service to
advertisers across the United States," Malik said. "But then we want
to expand their coverage to international markets." © Reuters
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