The Pandora v. Spotify ad battle is on
Pandora, the largest music streaming service in the U.S., will acquire AdsWizz, an audio ad technology platform, for $145 million in cash and stock. The move comes as Spotify tries to expand its path to profitability as it debuts next week on the New York Stock Exchange with an unusual direct listing.
Why it matters: Revenue growth opportunities for subscriptions are slowing as the market becomes more saturated. Music streamers are now looking for ways to beef up their ad technology to make more money from serving users as on their tiered or free platforms.