Spotify this week announced the acquisition of Podsights – a podcast advertising measurement system – and Chartable – a podcast analytics platform – to enhance its burgeoning podcast business.
Despite continuing initiatives to create podcast subscriptions revenue, Spotify noted eMarketer forecasts that annual US digital audio advertising revenue is poised to grow to nearly $8bn, of which the podcast ad market will be worth $2.7bn by 2025: “We believe the next step to unlocking this growth is demonstrating audio advertising’s impact through innovations in measurement and attribution for advertisers and audience insights for publishers.”
In 2020, Spotify sought to modernize podcast advertising with the launch of Streaming Ad Insertion. It also introduced its audio-first ad marketplace, the Spotify Audience Network.
