The technology could transform the audio experience
The Spotify Audience Network is an audio-first advertising marketplace that makes it possible for advertisers to connect with listeners across a broad range of content on- and off-Spotify, including Spotify Originals & Exclusives and content from third-party Megaphone publishers.
After launching the new advertising marketplace in the United States in April, Spotify has announced it is expanding the option to Australia, Canada and the United Kingdom.
The company points out that advertisers have historically bought podcast ads on a title-by-title basis, which limits reach. While title-based buying remains an effective way to align with trusted podcasts and hosts, it is not a way to target customers at scale.
The Spotify Audience Network offers advertisers a broad range of audience-based targeting tools, such as targeting by demographic, geographic and audience segment. They can use the marketplace to reach highly engaged, targeted groups within podcasts both on- and off-Spotify. Publishers can benefit from using the Audience Network as well, said Spotify.
“Over the last few years, Spotify has made significant investments to ensure the podcast industry and audio overall reaches its full potential, and we believe the introduction of audience-based buying to podcasts is essential to making this happen,” said Lee Brown, VP, Global Head of Spotify’s Advertising Business “The early success of the Spotify Audience Network in the U.S. is incredibly motivating and with the expansion to more markets, we’re making it possible for even more advertisers and publishers to make the most of this booming industry.”