Spotify is making it easier for marketers to understand just how their ad campaigns perform on the app.
Now available as part of the Spotify Ad Studio, the company’s self-serve programmatic ad platform, marketers can dive deeper into stats such as overall ad listens, conversion rates, average streams, new listeners and rate of intent.
According to the popular music streaming app, hundreds of labels and artist teams are regularly purchasing ads via the Ad Studio.
“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,” explained Mariah Czap, digital marketing manager at Yep Roc Records, an independent label.
By partnering with location expert Placed, the music app has been able to provide insights on how its ads may boost in-store visits.
Spotify currently makes 90.3% of its revenue from premium subscribers, but ad revenue rose 30% in Q3 to €142 million.