Spotify, which of course happens to be one of the leading music streaming platforms all across the globe has actively been trying to expand its business in the more recent times, and with that said, is focusing on more podcasts. In line with that then, the company has actually gone on to announce that it is in the process of acquiring two podcast related companies in Chartable and Podsights.
Not only has the company gone on to reveal the financial details in respect to these acquisitions, but it also then marks the very first major acquisition this year in the audio related business.
Podsights’ team includes around 40 full time employees, all of whom are said to join Spotify, as the company claims that it has no plans to adjust that particular team at this moment in time. On the other side of the spectrum then, Chartable will also end up being added to Spotify’s Megaphone.
Both these companies indeed operate in the space of podcast marketing as well as ad attribution. What they do is that they allow podcasters as well as networks to include tags in the shows to track details such as who listed to the tracks, if they heard the ad or indeed if they took any action upon hearing the advertisement or not.
Talking a bit more about acquiring Podsight, Spotify actually claimed that it will end up using the technology outside that of podcasting and bring it to the “full scope of the Spotify platform, including audio ads within music, video ads and display ads.”
And as far as the case goes for Chartable, Spotify actually plans on to focus more on the podcasters themselves instead of the advertisers. It will hence go on and integrate its audience insights as well as its promotional tools so that the said podcasters can actually grow their business.