Spotify Announces an Audio Advertising Marketplace

Spotify has announced a new audio advertising marketplace, called the Spotify Audience Network. The marketplace will help marketers of all sizes connect with listeners all over the world. The music streaming giant's service will give advertisers a medium through which they can reach an audience of millions of listeners on and off Spotify.

The streaming company is currently in the early stages of developing the Spotify Audience Network. This service will allow advertisers and marketers to reach across Spotify's own Originals and Exclusives, as well as podcasts via Megaphone and creation tool Anchor, and its ad-supported music, all in one place.

Podcasting has been mushrooming in the times of the pandemic. The service by Spotify will be a game-changer for the podcasters who will be able to make some more money through ads. They will also be able to reach millions of Spotify users and listeners beyond Spotify.

In its other announcement, Spotify also said that it would be offering podcasts on its self-serve ad platform, Spotify Ad Studio, starting with Spotify Originals and Exclusives in the U.S., in a beta test phase. Spotify Ad Studio was launched in 2017 and is being used by advertisers of all sizes, from Fortune 500 brands to artist teams to local coffee shops.

The company is currently beginning the beta testing podcast ad buying on Spotify Ad Studio in the U.S. It plans to expand this to third-party podcasts in the future.