Spotify announced that they have acquired two podcast technology companies: Podsights and Chartable.
Podsights is a leading podcast advertisement measurement service that help advertisers better measure and scale their podcast advertising. Chartable is a podcast analytics platform that enables publishers to know and grow their podcast audiences through promotional attributions and insight tools.
Here’s what these acquisitions will mean for advertisers and publishers:
Upleveling Measurement for Podcast Advertising
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. Over time, Spotify plans 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.
Helping Publishers Grow Their Businesses with Robust Insights & Promotional Tools
Over the past year, we’ve been strengthening Megaphone’s already robust offering – most recently with the acquisition of Whooshkaa and its broadcast-to-podcast technology – to ensure its the best place for podcast publishers to create, monetize, and measure their podcast business.
And now with the acquisition of Chartable, we will be further enhancing Megaphone’s suite of tools with the integration of Chartable’s audience insights and cutting-edge promotional tools, SmartLinks and SmartPromos. These tools will make it easier for publishers to turn audience insights into action and expand their listenership while ultimately growing their businesses.
The Future of Digital Audio
Spotify believes the opportunity for digital audio and podcast remains significant. With these acquisitions, Spotify says they are taking a big step in unleveling digital audio measurement and insights to help the entire industry scale to new heights.
The Verge reported: This deal is particularly critical for the company as it tries to make its ad platform the best and most powerful in audio. If it wants everyone to purchase ads through its marketplace, then it needs technology to better figure out who’s listening to those ads and what they’re doing after hearing them.
At the same time, marketing analytics are critical for show creators who want to ensure they’re spending their budgets well. This deal helps both creators and advertisers, two groups Spotify needs and wants to court.