Music streaming giant Spotify completed its latest acquisition involving Podsights and Chartable, the two podcast firms. The company is now preparing to expand its ad platform for advertisers.
Other than that, it would also help the audio firm to establish strong connections with brands for the podcast advertisements.
Spotify Acquires Podcast Firms
As Spotify prepares to expand its advertising platform for advertisers, it recently acquired two podcast firms that will help it out.
According to its official blog post on Wednesday, Feb. 16, Spotify announced that it acquired two companies that will help in expanding its platform for podcast ads.
With the acquisition of Podsights, the Swedish-based company will be able to run effective analytics for the gathered data.
The advertisers can now identify the number of customers who click the advertisements aside from knowing their post-actions upon clicking them. For instance, this covers if the user has bought the product or not.
In addition, the recently acquired platform will be relying on Spotify's methodology to bring meaningful insights for all podcast advertisers all over the world.
On the other hand, Chartable will be using SmartPromos and SmartLinks as part of its promotional strategy. These two tools will be readily offered to Spotify podcasters.
The first one will be useful in measuring the number of ads leading to downloads. This would also be beneficial in calculating how successful are the ad campaigns.
Meanwhile, Chartable wrote that the second tool will be offered for the podcasters as a download and click tracker, according to Engadget's report. Having said that, SmartLinks pertain to "shareable, trackable URLs that automatically route listeners to their podcasts."
Related Article: Spotify Acquires Streaming Firm Whooskaa Which Offers Tool to Convert Radio Shows into Podcasts
Spotify to Attract Podcasters and Advertisers
Based on its recent move, Spotify is now gearing towards extending its service to its clients. This will mean that it will offer more exclusivity for advertisers which will later translate to sizable profits.
We could also expect that more podcast ads will arrive on the music platform soon especially after it revolutionized a special ad setup for listeners.
With that, Spotify anticipates a huge position in the market ahead of its competitors. More podcasters and brands will be coming to the app which will also mean an increase in its sales.
Spotify's Previous Acquisitions
Back in June 2021, Spotify officially announced that it acquired Podz to improve its podcast service.
As a background, the startup company will pave the way for Spotify to give listeners easy access to various podcast discoveries. The streaming giant acknowledged the Podz app's machine learning technology which will take podcast listening to new heights.
Five months later, the audio music titan disclosed its plans to add audiobooks to the app by acquiring Findaway.
Aside from playing songs and listening to podcasts, e-readers can now get the best out of the music app. This indicated that the company can now roll out access to audiobooks for publishers, listeners, and authors.
Read Also: Spotify Account Guide: How to Delete Your Account and Cancel Your Premium Subscription
This article is owned by Tech Times
Written by Joseph Henry
