Spotify has greatly expanded its investments in the podcast space in recent years. The platform confirmed in a statement today that it has acquired two more of the market’s leading podcast marketing and advertising companies. Here are the details…
Spotify takes another leap forward for podcast advertising
Popular online music and podcast platform Spotify has announced that it has acquired two of the industry’s leading companies, Chartable and Podsights. No explanation has yet been given on the cost of the deal. But this is the platform’s first podcast investment in 2022.
Podsights and Chartable allow podcasters to add systems to the app to determine who’s listening, whether they’ve heard an ad, and what they did as a result if they did.
Spotify said that Podsights plans to use its technologies outside of the podcast area and will use it in all areas of its platform, including audio, video and display ads within music. However, technologies such as SmartLinks, especially owned by Chartable, seem to be used only in podcast broadcasts rather than advertisers.
In his post on the subject, Spotify said:
These tools will make it easier for publishers to turn audience insights into action and ultimately expand their audiences while growing their business.
If companies like Spotify want advertisers to buy ads through their marketplace, they need technology to better understand who’s listening to those ads and what they’re doing after hearing them. In fact, we can say that this purchase was made precisely because of the shortcoming at this point.
In recent years, the popular platform has seen a boom in podcasts spanning ad tech, audiobooks, and creative talent. Last year, the company acquired Whooshkaa, Podz, Findaway, and Locker Room to offer and promote more popular content. Previously, it had acquired Megaphone, one of the most important podcast advertising platforms in the market.
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