Audio streaming platform Spotify has announced the launch of a "first-of-its-kind" audio advertising marketplace, The Spotify Audience Network, which will allow advertisers of all sizes to connect with listeners consuming a broad range of content.
These will include Spotify’s Originals & Exclusives, podcasts via Megaphone and Anchor, and ad-supported music.
The marketplace will leverage Spotify's medium-defining technology to give advertisers the ability to reach its audience of hundreds of millions of listeners — at scale — both on and off Spotify.
Spotify is still in the early stages of developing this offering but is set to share more on it in the coming months.
The announcement was made at Spotify's Stream On event this week, alongside a raft of other audio ad product announcements and the launch of a new exclusive podcast, Renegades: Born in the USA, hosted by President Barack Obama and Bruce Springsteen.
McDonald’s has been named the presenting partner in Australia for the first season of the new eight-episode podcast series.
New features have also been added to Spotify's Streaming Ad Insertion (SAI) product which was unveiled last year to provide new data-driven insights for podcast advertising.
SAI will now be made available to all markets and includes more product features, like audience-based buying, native ad placements, and reporting on creative performance, all of which play a key part in powering the Spotify Audience Network.
Later this year, Spotify will also start to make this technology available to Megaphone podcast publishers and Anchor creators globally.
The Spotify Ad Studio will also begin beta testing podcast ad buying in the US.
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