Customers include Google, Microsoft, Verizon, Walmart and AT&T, according to its website. Lots of big companies already use Megaphone to target podcast listeners. Megaphone offers technology for podcast publishers and advertisers seeking targeted slots on podcasts. The deal will give advertisers more scale when it comes to who they can reach, and enable podcast publishers to make money from their shows. Now it's opening that up for all podcast publishers with its recent $235 million acquisition of ad tech company Megaphone. That information is valuable to advertisers, but the tool was initially only used for Spotify's original and exclusive podcasts.
For example, advertisers can use the tool to see the age, gender and device type of people who actually heard an ad. Spotify's " Streaming Ad Insertion" tool, which it introduced earlier this year, dynamically inserts audio ads into podcast streams on its platform, allowing for more targeting and measurement. Podcasters might know how many listeners downloaded a show, for example, but don't always know long someone listened or whether they listened to ads. Traditionally, it's been tricky to measure the return on an investment in podcast advertising. And Spotify has new tools that will help advertisers glean more from the people who are listening to podcasts, which could help it rake in much more in ad revenue in the coming years. The medium is just made for advertisements," Stifel analyst John Egbert told CNBC.Īccording to an eMarketer forecast, podcast ad spend is projected to surpass $1 billion in 2021. "Once the pieces are in place to monetize podcasts in a scalable way, I think it's just going to explode the dollars coming into podcasts.
Analysts say Spotify's new approach to advertising will help. Now it needs to show those investments were worth it.
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