Spotify is further investing in podcasts. That’s why the company is acquiring two other companies that can help in this. They are Chartable and Podsights. These are two leading companies for podcast marketing and ad attribution. It is not known what the streaming service is paying for this.
Both companies allow podcast creators to incorporate tags into their shows. Through those tags, they track who is listening, whether they heard an ad, and whether an action follows afterward. The tools that become available to creators should give them more insight into their audience, allowing business to grow.
Spotify acquires two companies
This is a crucial deal for Spotify. This is because the company wants to ensure that its own ad platform becomes the strongest in the audio world. If the service wants other parties to buy ads for its platform, the company must be able to offer the best tools to do so. And that is possible thanks to these investments.
So in the meantime, podcast creators and publishers get more insight into their listeners, so they can be sure that their investments won’t go to waste either. So this deal is good for both creators and advertisers. Those are two groups that are most important to Spotify, hence all the extra attention.
Buy, buy, buy
Spotify is on a buying spree. In the past few years, the streaming service acquired various types of companies. Those companies provide technology for ads, audiobooks and creative talents, among other things. Last year, for example, the service already acquired Whooshkaa, Podz, Findaway and Locker Room.
This allows Spotify to offer and promote more spoken content. In 2020, the company bought the major advertising platform Megaphone. Whether all this is actually better for the listener – the person who pays monthly – remains to be seen. The app does not necessarily get better when there is extra focus on ads and features that you as a user do not want.