Spotify bought Podsights and Chartable two of the most well-known podcast marketing and attribution startups. The deal’s price hasn’t been disclosed, but this is the company’s first big acquisition of the year, following so many of the audio acquisitions.
Podcasters and networks can integrate Podsights and Chartable to embed tags in their shows that track who listened if they heard an ad and whether they took action after hearing it.
Spotify wants to expand Podsights’ technology beyond podcasts, bringing it to the “full scope of the Spotify platform, including audio ads within music, video ads, and display ads,” according to Spotify. Because of its technology, such as SmartLinks, the Chartable acquisition looks to be aimed more at podcasters than advertising.
Spotify states, “These tools will make it easier for publishers to turn audience insights into action and grow their listenership while ultimately growing their businesses.”
This agreement is especially important for the company as it attempts to make its audio ad platform the best and most powerful in the industry. If it wants everyone to acquire advertisements through its marketplace, it’ll need to improve its technology to find out who’s listening to the ads and what they’re doing afterward.
Marketing statistics, on the other hand, are crucial for show creators who want to make sure they’re getting the most out of their money. Spotify needs and wants to court both creators and advertising, so this partnership benefits both.
In recent years, Spotify has gone on a podcasting acquisition binge, acquiring advertising technology, audiobooks, and top creative talent.
Following its purchase of the largest podcast ad platform Megaphone in late 2020, the firm bought Whooshkaa, Podz, Findaway, and Locker Room last year to sell and promote more spoken audio content. Meanwhile, Spotify has been acquiring key talent and shows to advertise on, like Joe Rogan’s podcast, Gimlet, Parcast, and The Ringer.