Spotify is apparently planning to launch an audio ad marketplace that would allow advertisers to connect with the app’s users.
The Spotify Audience Network works across Spotify music that’s ad-supported, Spotify Originals and Exclusives but also via podcasts streamed on Megaphone and Anchor.
Spotify said that the development was still in its early stages, but could eventually allow marketers to reach audiences in screen less moments at scale on and off Spotify.
Advertisers would also be able to make sense of their campaigns by monitoring their success with Streaming Ad Insertion insights.
Spotify ads target audiences based on demographics and audience segments, but the company plans to add contextual targeting soon.
While the company is currently beta testing its podcast ad buying in the US, it wants to significantly simplify the way advertisers purchase ads on the platform.
Spotify said it also plans to roll out the Streaming Ad Insertion insights to other markets in late 2021 as it begins to expand its product to include audience-based buying, native ad placements and creative performance insights.