Spotify Revealed Its New Advertiser Empowering System at CES 2020
Daniel Johnson — January 13, 2020 — Tech
References: newsroom.spotify & techcrunch
Spotify announced, at CES 2020, that it created ad insertion technology for podcasts on the platform. The ad insertion technology will give podcasters access to a number of different demographic information, like gender, age, as well as listening frequency and more. This information can then be used to help secure advertising revenue.
Initially, the new technology will only be available for podcasts that are exclusive to the Spotify platform. This will ensure that the platform is able to control the content that it supports, as brand association could be a concern for prospective advertisers.
The announcement indicates that Spotify is making a concerted effort to monetize podcasts on the platform. Jay Richman, the head of Global Advertising Business & Platform, spoke about how new tools can help advertisers, “The problem we’re solving with Spotify podcast ads is really on the advertiser’s side — advertisers have no idea how their ads are working. They don’t even know whether or not an ad they purchase is being consumed by a listener."
Image Credit: Shutterstock
Initially, the new technology will only be available for podcasts that are exclusive to the Spotify platform. This will ensure that the platform is able to control the content that it supports, as brand association could be a concern for prospective advertisers.
The announcement indicates that Spotify is making a concerted effort to monetize podcasts on the platform. Jay Richman, the head of Global Advertising Business & Platform, spoke about how new tools can help advertisers, “The problem we’re solving with Spotify podcast ads is really on the advertiser’s side — advertisers have no idea how their ads are working. They don’t even know whether or not an ad they purchase is being consumed by a listener."
Image Credit: Shutterstock
Trend Themes
1. Ad Insertion Technology - The development of ad insertion technology for podcasts presents opportunities for targeted advertising and increased revenue generation.
2. Podcast Monetization - The growing focus on monetizing podcasts on platforms like Spotify creates opportunities for content creators to generate revenue through advertising.
3. Data-driven Advertising - The use of demographic information, such as gender, age, and listening frequency, empowers advertisers to make more targeted and effective ad placements.
Industry Implications
1. Podcasting - The podcasting industry can leverage ad insertion technology to attract advertisers and generate new revenue streams.
2. Digital Advertising - The rise of podcast monetization requires the digital advertising industry to adapt and create targeted ad campaigns for podcast listeners.
3. Data Analytics - The demand for data-driven advertising in podcasts necessitates the growth of the data analytics industry to provide insights and measurement tools for advertisers.
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