Spotify has acquired Podsights, a podcast advertising measurement service, and Chartable, a podcast analytics platform. This acquisition hints that the music streaming platform is focusing more and more on podcasts. According to Spotify, with these investments, it will be delivering impact for advertisers and growth for podcast publishers like the Wall Street Journal, ViacomCBS, and AdLarge. Also Read - Spotify’s new 'Supergrouper' feature creates personalised playlists with users' favourite artists
With Podsights, podcast advertisers globally will be able to understand and receive more accurate measurement and actionable insights. Podsights will help Spotify provide advertisers with information on how podcast ads drive actions that matter to their businesses. The Swedish music streaming platform aims to extend these measurement capabilities “beyond podcasts to the full scope of the Spotify platform, including audio ads within music, video ads, and display ads”. Also Read - Spotify introduces 'Community' feature to let mobile users see friends' real-time activity
On the other hand, Chartable will integrate its audience insights and its promotional tools, SmartLinks and SmartPromos, with Megaphone so that the podcasters can get information regarding their listener base and grow their business. For the unversed, Megaphone has recently acquired a company called Whooshkaa, which allows radio broadcasters to convert their programming into podcasts. Also Read - Spotify plans to launch audiobooks platform soon
Welcome to the band, @podsights 🎉
— Spotify Advertising (@SpotifyAds) February 16, 2022
As per the company blog, “We believe the opportunity for digital audio and podcast remains significant. With these acquisitions, we’re taking a big step in upleveling digital audio measurement and insights to help the entire industry scale to new heights.”
“Spotify’s acquisition of Podsights accelerates our plans to help solve this measurement pain point for advertisers, both on Spotify and across the industry. With Spotify’s technology and intelligence, Podsights can bring more accurate measurement and actionable insights to podcast advertisers around the world.”, said Khurrum Malik, Head of Advertising Business Marketing, in a Spotify Advertising blog.