At virtual event, audio giant reveals new podcasts and ad tools
Spotify announced a new advertising marketplace — the Spotify Audience Network — that will allow brands to tap into the streaming giant’s audience of audio consumers. The company provided an update during its “Stream On” event today, it’s first such event since 2018.
The Spotify Audience Network will include podcasts, ad-supported music, and Spotify originals and exclusives with the goal of becoming a one-stop audio shop.
“For the first time, audio creation, consumption and monetization is taking place in the same place,” says Jay Richman, VP, head of global ads business and platform at Spotify. “Today’s announcement is about assembling all the pieces into one place.”
The Audience Network will combine Spotify’s audience inventory generated from music, exclusive shows with monetization independent podcasts on its platform Anchor, and Megaphone, its publishing and ad platform for enterprise publishers.
Richman says advertisers will be able to reach listeners at scale, both on and off Spotify. “If there’s someone interested in personal finance, we can find them across disparate sources, for instance Megaphone audiences or Spotify audiences,” says Richman. Last year, Spotify acquired Megaphone, and in 2019 purchased Anchor. Spotify says the Audience Network is in the early stages of development and that the company will share more information in the coming months.