Spotify stated today that it is acquiring Chartable and Podsights, two significant podcast ad tech companies, to extend its advertising options. Both firms provide popular tools that assist brands and agencies in determining the efficiency of their podcast advertising.
Spotify outlined how both firms will grow their ad platforms in a blog post announcing the acquisitions. Advertisers will view more comprehensive information on who clicked on an ad and what actions they performed afterward, thanks to Podsights.
SmartLinks and SmartPromos, two of Chartable’s promotional tools, will soon be available to podcasters on Spotify. SmartPromos allows podcasters to monitor which commercials are generating the most downloads and, as a result, determine the performance of their advertising initiatives.
SmartLinks are “shareable, trackable URLs that automatically link listeners to their podcasts,” according to Chartable‘s website. Podcasters can use the tool to track both clicks and downloads.
Over the last few years, Spotify has made significant investments in increasing its podcast services by signing exclusive arrangements with high-profile creators and providing podcast marketers with more granular information.
The Chartable acquisition, in particular, will complement Megaphone’s products, which Spotify acquired in 2020.
Both marketers and professional podcasters wishing to join Spotify will benefit from these two purchases. If you’ve noticed an increase in the number of podcast commercials in the last couple of years, you’re not alone: In-app advertising and pre-recorded ad slots that are targeted to your listening patterns have been added to Spotify’s ad setup.
This latest partnership appears to make the platform more appealing to companies and advertising and luring podcasters without their network of salespeople inside Spotify’s walled garden.
Spotify has bought podcast networks like Gimlet Media and Anchor, made exclusive arrangements with celebrities like Joe Rogan and “Call Her Daddy” host Alex Cooper, and invested in underlying technology since announcing its “Audio-First” policy in 2019, signifying its push into podcasting.
In 90 markets, Rogan is Spotify’s most popular podcast host, despite being criticized for his views on COVID-19 and his use of racial language. The show’s over 100 episodes have been removed after he apologized.
Spotify has tried utilizing acquisitions and real-time ad insertion like Megaphone to modernize podcast advertising, allowing podcast publishers to earn more income from their content. It’s seeking to get a piece of the $2 billion in podcasting revenue that eMarketer projects will be generated by 2023.
“We’re very happy to deliver this service to advertisers all throughout the country,” Malik said. “However, we’d like to broaden their reach to include overseas markets.”