Spotify has made two more podcast-related acquisitions, announcing Wednesday (February 16) that it’s bought Podsights and Chartable.
Podsights is a podcast advertising measurement service, and Chartable is a podcast analytics platform.
With the acquisition of Podsights, Spotify says that it will “be able to help advertisers understand how podcast ads drive actions that matter to their businesses”.
Over time, SPOT adds that it plans to extend these measurement capabilities beyond podcasts to “the full scope of the Spotify platform”, including audio ads within music, video ads, and display ads.
With the acquisition of Chartable, Spotify says that it will be enhancing Megaphone’s suite of tools with the integration of Chartable’s audience insights and promotional tools.
Spotify acquired Megaphone, a podcast advertising and publishing platform, for a reported $235 million in November 2020.
The new acquisitions mark the latest deals struck as part of Spotify’s billion dollar podcast strategy.
SPOT also acquired Australia-based podcast technology platform, Whooshkaa in December.
Other podcast companies acquired by Spotify include the likes of Gimlet Media and Anchor, for $343 million, back in February 2019, as well as Parcast, The Ringer and Anchor FM.
At the end of Q4 2021, Spotify had 3.6 million podcasts on the platform (up from 3.2 million at the end of Q3).
“This is a really unique opportunity to join forces and accelerate podcast advertising measurement globally.”
Sean Creeley, Podsight
In a Q&A published on Spotify’s Advertising site, Podsight CEO, Sean Creeley, said: “This is a really unique opportunity to join forces and accelerate podcast advertising measurement globally.
“Ultimately, for us, it came down to Podsights and Spotify sharing the same core belief: All great media ecosystems need great measurement to thrive. And that’s why we’re here today.
“We believe that better measurement will benefit the entire ecosystem and we can’t wait to get started with Podsights.”
Khurrum Malik, Spotify
Khurrum Malik, Spotify’s Head of Advertising Business Marketing, added: “We are seeing a lot of advertisers looking to shift more media budgets to podcasting and they are telling us that in order to grow their investment in the category, they need more measurement and more insights.
“We are excited to welcome the Podsights team into Spotify to help accelerate and improve measurement for podcast advertisers around the world.
“We believe that better measurement will benefit the entire ecosystem and we can’t wait to get started with Podsights.Music Business Worldwide
