Spotify has made two more podcast-related purchases, unveiling Podsights and Chartable on Wednesday (February 16).
Spotify claims that by acquiring Podsights, it will be able to "assist marketers in understanding how podcast ads generate actions that matter to their businesses."
SPOT wants to expand these measuring capabilities beyond podcasts to "the whole spectrum of the Spotify platform" in the future, including audio ads within music, video ads, and display ads.
Spotify claims that the acquisition of Chartable will enhance Megaphone's array of capabilities by integrating Chartable's audience insights and promotional features. In November 2020, Spotify paid $235 million for Megaphone, a podcast advertising and publishing platform.
The new acquisitions are the most recent in Spotify's multibillion-dollar podcast strategy. In December, SPOT purchased Whooshkaa, a podcast technology company based in Australia. Gimlet Media and Anchor, as well as Parcast, The Ringer, and Anchor FM, were among the podcast companies acquired by Spotify in February 2019 for $343 million.
"In the end, it boiled down to Podsights and Spotify sharing the same underlying belief: outstanding measurement is required for all great media ecosystems to survive." That is why we have gathered here today.
"BETTER MEASUREMENT WILL BENEFIT THE ENTIRE ECOSYSTEM, AND WE CAN'T WAIT TO GET STARTED WITH PODSIGHTS," said the team.
"We are seeing a lot of advertisers trying to shift more media budgets to podcasting and they are telling us that in order to grow their investment in the category, they need more measurement and more insights.
," said Khurrum Malik, Spotify's Head of Advertising Business Marketing.
“We are excited to welcome the Podsights team into Spotify to help accelerate and improve measurement for podcast advertisers around the world. “We believe that better measurement will benefit the entire ecosystem and we can’t wait to get started with Podsights
