Spotify Audience Network will facilitate advertisers to leverage content formats such as podcasts and ad-supported music to reach listeners.
Over the last year, Spotify has taken various steps to modernise audio advertising — launching Streaming Ad Insertion, expanding its Ad Studio and acquiring Megaphone. In the most recent update, they have introduced an audio advertising marketplace called Spotify Audience Network.
This would enable advertisers of all sizes to connect with listeners consuming a broad range of content, including Spotify’s Originals & Exclusives, podcasts via Megaphones and Anchor and ad-supported music. Spotify is currently in the early stages of developing this offering and will be sharing more details in the coming months.
Streaming Ad Insertion, which provides data-driven insights into podcast advertising, will be launched in additional markets in 2021. It is currently only available in the US, Canada, Germany, and the UK.
More product features like audience-based buying, native ad placement, and reporting on creative performance will soon be rolled out. Spotify plans to make this technology available to Megaphone podcast publishers and leading Anchor creators later this year.
In addition to these updates, Spotify has also announced that it will begin testing podcast ad buying on Spotify Ad Studio in the US. This will make it simpler for any advertiser to connect with engaged listeners at scale, whether they are streaming a podcast or discovering a new playlist.