Spotify has been gearing up and acquiring podcast companies. Spotify announced earlier this year one of their focuses is on their audio advertising marketplace, which they referred to as Spotify Audience Network (SPAN); expediting this platform’s creation, they purchased the two best analytics and advertising companies. In addition, they have made investments in technology for podcasting, including a video component that is currently in beta with plans to roll out to the public sometime in late 2022. This is a strategy for Spotify to grow over the next four to five years.
These are the five investments Spotify has made to increase its attractiveness to podcasters wanting to monetize their podcast on the Spotify platform and making them the number one in podcasting.
Spotify started by obtaining the exclusive rights to the Joe Rogan Experience gaining 11 million listeners to their platform on Joe Rogan’s podcast alone. Joe Rogan is the most successful podcast and has diverse guests, making the audience very diverse, and one Spotify can monetize.
Spotify purchased the ad company Megaphone in 2019, allowing them to service podcasters in Spotify with advertisers for their podcast.
Spotify purchased anchor in 2019; this allows them to compete in the market on another level since they now own a platform that incorporates a suite of tools, making it an all-in-one platform for podcasters. To view the complete list of features, check it out here.
It is one of the top platforms for analytics. It allows podcasters to understand their audience and also helps them to show advertisers their value within the market. If you haven’t signed up for Chartable and have a podcast, it’s worth all the insight it provides!
Podsights provides reporting in real-time across hosting providers to help advertisers understand how their campaigns are performing and the number of households they are reaching. You can check out the platform here.
Spotify investing in technology, content, and analytics will make it the leading podcast streaming service. They are making it more and more appealing for podcasters to stream their show on Spotify and offer exclusive content there. Spotify is working on a subscription model for podcasters to ensure they get paid for their content. Will Spotify limit the tools and offer them exclusively on their platform like they did the Joe Rogan Podcast? Only time will tell.
If you’re thinking about starting a podcast and don’t know where to start, reach out to us! We would love to help guide you through this process,
