Spotify has announced its acquisition of two major podcast-based platforms, Podsights and Chartable, with a view of helping both the advertisers who push ads on its platform as well as those who publish podcasts on it. The financial details about these deals haven’t been revealed by the company.
However, Spotify has made it clear how it wishes to repurpose the services developed by both platforms. Podsights is a tool that gives advertisers brand-curated audience insights that help them discover and pinpoint the podcasts they should consider for their next advertising campaigns.
Spotify has cited a recent survey that suggested that measurement and attribution remain the “two biggest unsolved challenges” for podcast advertisers. This has been mentioned as the reasoning behind the decision to acquire Podsights. The audio giant wishes to blend Podsights’ offerings with its technology and intelligence to bring more accurate measurement and actionable insights to podcast advertisers.
As for Chartable, this company is aimed at providing podcast analytics and attribution for publishers. Its tools are claimed to help publishers grow, and help brands and agencies understand their spendings better. Spotify plans to combine Chartable’s expertise in this department with that of its other acquisitions, Whooshkaa and Megaphone.
Through a blog post announcing both these acquisitions, the company said, “We believe the opportunity for digital audio and podcast remains significant. With these acquisitions, we’re taking a big step in upleveling digital audio measurement and insights to help the entire industry scale to new heights.
Spotify has bet big on podcasts and its commitment to that is showing in all its recent purchases.