Audio streaming platform Spotify has launched a streaming conversion metrics solution which allows music marketers to understand how their ad campaign on Spotify has performed.

This tool is available through Spotify’s self-serve programmatic advertising platform, Spotify Ad Studio, and will give marketers figures on:

• Overall listens of the ad
• Conversion rate
• Average streams
• New listeners
• Intent rate

See the picture below for what Spotifys metrics solution looks like

Spotify says hundreds of labels and artist teams are buying ads through its Ad Studio platform. Mariah Czap, digital marketing manager at independent label Yep Roc Records says, “Spotify Ad Studio helps us discover new fans for our artists and encourage passive fans to become more active. The new metrics give us a deeper understanding of how our campaigns are performing and how they have an impact far beyond a click.”

Spotify says its partnership with location insights firm Placed allows advertisers to measure how reaching their audience on its streaming platform increase in-store visits on mobile, desktop, connected speakers and in cars.

According to its latest figures, 90.3 per cent of Spotifys revenue comes from its premium subscribers in Q2 2018 (up 1.5 per cent from a year earlier) but the company is pushing into the podcast sector as it looks to further monetise its free users.