Spotify is taking its audience-first advertising marketplace on the road, following a successful launch in the US in April.
The Spotify Audience Network makes it possible for advertisers of all sizes to connect with listeners across a broad range of content both on and off the platform, including Spotify Originals & Exclusives and content from third-party Megaphone publishers.
The network will be available to advertisers and Megaphone publishers in Australia, Canada and the UK as of today.
With the Spotify Audience Network, advertisers have a broad range of easy-to-use, audience-based targeting tools including demographic targeting, geographic targeting, and even audience segment targeting. Advertisers can also reach highly engaged, targeted audiences within podcasts both on and off the platform.
Advertiser reaction has been promising - within three months of launch, nearly 60 per cent of Spotify’s US podcast advertiser base is advertising with the Spotify Audience Network. Advertisers include Volkswagen and Saks.
Megaphone podcast publishers who opted-in to the network have also seen meaningful improvement in their ability to monetize. Fill rates increased by over 10 per cent, CPMs increased by over 40 per cent, while the number of unique advertisers in their content is increasing, with some publishers seeing that number double.
A Megaphone publisher opted-in to the network, Cathy Csukas, CEO of AdLarge Media, notes, “It is paramount to us that the advertising in our podcast networks complements the content, providing an optimal listening journey and user experience while also generating revenue. The Spotify Audience Network has truly been additive to our usual monetization efforts, helping to boost revenue across all our shows in our podcast ad sales network while serving quality ads at scale that maintain our podcast listening standard.”