Over the last two years, Spotify has been focused on modernizing digital audio advertising to drive growth for creators and publishers while delivering impact for advertisers. In November 2020, they acquired Megaphone, which enabled them to offer podcast publishers innovative tools to help them earn more from their content.
Throughout 2021, Spotify unveiled new features for Streaming Ad Insertion, unlocked podcast ad buying in Spotify Ad Studio, and introduced the Spotify Audience Network. Since the launch of the Audience Network, the company saw a double-digit increase in fill rates and a double-digit lift in CPMs for opted-in Megaphone publishers.
Simply put, by modernizing ad monetization for podcasts, they were able to help enterprise podcast publishers grow their businesses, with nearly one in five Spotify advertisers now participating in the marketplace.
Spotify is committed to continuing to help publishers worldwide grow their podcast businesses. That’s why they are announcing their acquisition of Whooshkaa, an Australia-based podcast technology platform that gives independent creators, publishers, broadcasters, and brands a cost effective, end-to-end platform to host, distribute, monetize, and track on-demand audio.
Whooshkaa offers radio broadcasters a specialized tool that makes it simple to turn their existing audio content into on-demand podcast content. As part of the acquisition, Spotify plans to soon integrate this technology into the Megaphone suite.
Here’s what it means for publishers and advertisers.
Megaphone, the podcast platform of choice for leading enterprise publishers like AdLarge Media, the Wall Street Journal, and the Australian Radio Network, offers a comprehensive suite of powerful podcasting tools that can help publishers create, monetize, and measure their podcast businesses alongside white-glove customer service. With the integration of Whooshkaa’s broadcast-to-podcast technology into Megaphone, radio broadcasters will be able to more easily and quickly turn their existing audio content into a podcast and access Megaphone’s industry-leading, differentiated suite of tools and technology.
Growing audience for advertisers
Audiences worldwide are tuned in to digital audio at record rates, with no signs of slowing. As the world’s most popular audio platform, Spotify is the place for advertisers to reach them.
With the Spotify Audience Network, advertisers are able to target audiences listening across network of podcasts, including Spotify Originals & Exclusives, and third-party content via Megaphone and Anchor. Integrating Whooshkaa’s innovative broadcast-to-podcast technology means they will be able to bring even more third-party content into the Spotify Audience Network, helping advertisers to connect with even more audiences.