The streaming company aims to develop its podcast measurements for advertisers and publisher insights with these new acquisitions.
Spotify plans to further develop its podcast business with the acquisition of podcast advertising measurement service Podsights and podcast analytics platform Chartable.
The streaming giant said yesterday (16 February) that these purchases will help advance podcast measurement for advertisers and insights for publishers. Financial details of the acquisitions have not been disclosed.
Podsights is designed to help advertisers better measure and scale their podcast advertising.
Spotify said that measurement and attribution are the two “biggest unsolved challenges for podcast advertisers”. It added that with this acquisition, Podsights will be able to bring more accurate measurements and insights to podcast advertisers around the world.
“In short, with the acquisition of Podsights, Spotify will be able to help advertisers understand how podcast ads drive actions that matter to their businesses,” Spotify said in a statement.
“Over time, we plan 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.”
Podsights founder Sean Creeley said his US-based company has worked with more than 1,200 brands to help scale their advertising. He added that the company measured $85m in advertising spend in the last quarter of 2021.
“We’ve made no secret about our ambitions to be the leader in audio measurement, but there are challenges inherent to podcast measurement that we couldn’t solve alone,” Creeley said in a post. “With Spotify’s technology and intelligence, Podsights can bring more accurate measurement and actionable insights to every brand, agency, and publisher globally on and off Spotify.”
Chartable for publishers
With the acquisition of Chartable, Spotify plans to enhance the existing features of Megaphone, the podcasting app it acquired in November 2020.
It will integrate Chartable’s audience insight and promotional tools, which aim to help publishers get to know their listeners.
“These tools will make it easier for publishers to turn audience insights into action and expand their listenership while ultimately growing their businesses,” Spotify said.
Spotify has made considerable investments in its podcast business to attract users beyond its core music streaming offering. This includes a deal worth around $100m for the Joe Rogan Experience podcast, which has been facing controversy in recent months due to concerns raised about misinformation and language around race.
Last month, Spotify partnered with Stripe to expand its podcast subscription service with new payment infrastructure, while helping podcasters monetise their content.
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