Spotify acquires Podsights and Chartable
Spotify is acquiring Podsights, a podcast ad measurement service and Chartable, a podcast analytics platform.
Why it matters: It's the latest investments made by the audio giant to beef up its growing podcast business.
Details: The Podsights deal gives Spotify the ability to help its advertisers measure how its ads performed.
- The Chartable deal will help boost Spotify's audience and promotional tools that it uses to power its advertising platform, Megaphone.
What they're saying: “Our acquisitions of podcast technology players Podsights and Chartable are important steps in our pursuit of taking digital audio to the next level, underscoring the powerful impact it delivers for advertisers and publishers, respectively.” said Dawn Ostroff, Chief Content & Advertising Business Officer at Spotify.
The big picture: Spotify has invested hundreds of millions of dollars in the past five years to beef up its podcast business, and in turn, its ads business. The company recently announced that it surpassed €1 billion in annual ad revenue in 2021.