Continuing its investment in the advertising business, Spotify announced the launch of the Spotify Audience Network in India, as well as in Sweden, Brazil, Mexico and Japan.
The audio-first advertising marketplace will bring scaled, audience-based podcast buying to brands in India for the first time, and presents an opportunity for podcast publishers and creators in the markets to effectively monetise their content.
The first publishers in India that will leverage the Network to monetise content through advertisers, include Audio Pitara and Ideabrew Studios.
The Spotify Audience Network launched in the US in 2021 and is now available in more than a dozen global markets across North America, Latin America, Europe and Asia. Over the past 12 months, advertisers participating in the marketplace have grown by over 45% while opted-in podcast publishers have increased by more than 70%.
“In Q3, our global advertising revenue grew 16% YoY and podcasts played a critical role. Building on the same success and keeping in mind that India is a significant growth market for podcasts, we are unlocking this growing marketplace for local advertisers and publishers. This expansion is the latest in a series of investments Spotify has made to take podcast and audio advertising to the next level by enabling brands to reach these uniquely engaged listeners at scale”, said Arjun Kolady, Head of Sales - India, Spotify.
“We are always looking for new ways to bring in advertising that not only drives greater revenue but also provides personalised and valuable messaging for our listeners. The Spotify Audience Network will be a critical addition to our monetization efforts by bringing us incremental, unique demand that helps ensure more of our impressions are filled by high-quality and brand-safe ads,” said Tapan Gupta, co-founder, Audio Pitara.
“Podcasts are an immersive medium, and so, while we focus on finding innovative avenues to integrate advertising, we also want to ensure that the brand and the messaging is relevant to our audience. The inclusion of the Spotify Audience Network is pivotal to our growth strategy, as it adds distinctive demand”, explained Aditya Kuber, Co-founder and CEO of Ideabrew Studios.
Here’s what the Spotify Audience Network means for advertisers and publishers: