Spotify acquiring advertising measurement and audience analytics companies
Pursuing their podcast-heavy strategy, Spotify announced today the acquisition of two podcast technology companies, the advertising measurement service Podsights and the analytics platform Chartable, hoping to address two main issues limiting advertising spending, measurement and attribution.
Podsights will utilize Spotify’s technology and internal data to bring more accurate measurement and actionable insights to podcast advertisers in the beginning, with a plan to eventually expand it beyond podcasts to the full scope of the Spotify platform, including audio ads within music, video ads, and display ads.
On the sell side, Spotify will integrate Chartable to further enhance Megaphone’s suite of tools with audience insights and the promotional tools, SmartLinks and SmartPromos, hoping to make it easier for publishers to get more actionable audience insights in order to grow.
Spotify’s announcement is quoting eMarketer’s estimations for digital audio advertising revenue, which in U.S. alone is estimated to grow to nearly $8 billion—and of that, $2.7 billion for podcast advertising alone—by 2025.
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