Spotify plans to introduce an audio advertising marketplace to connect advertisers with podcast and music listeners both on and off the audio streaming platform. The Spotify Audience Network will connect advertisers of all sizes with listeners of Spotify Originals & Exclusives, podcasts streamed via Megaphone and Anchor, and ad-supported music.
Though still in the ‘early stages’ of its development, Spotify says that the marketplace will enable advertisers to reach audiences in screenless moments at scale on and off Spotify, leverage targeting tools, and explore insights powered by Streaming Ad Insertion (SAI).
The media available via the Audience Network will be addressable based on demographics and audience segment, with contextual targeting eventually being added.
Meanwhile, Spotify will launch SAI in additional markets later this year. It will also unlock more product features, including audience-based buying, native ad placements, and reporting on creative performance, while making the technology available to Megaphone podcast publishers and leading Anchor creators.
SAI was launched at the beginning of 2020 to deliver Spotify’s full suite of planning, reporting, and measurement capabilities for podcasts.
The audio streaming platform has also begun beta testing podcast ad buying on Spotify Ad Studio in the US, as it seeks to make it simpler for advertisers to connect with audiences at scale.