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Spotify Podcast

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Last Updated: 02 July 2021

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Spotify Podcast

Twitter@spotifypodcasts

Spotify said Tuesday it will acquire the Virginia-base Podcast Ad platform Megaphone, as streaming platform aims to capture more Advertising dollars. The 235-million purchase of Megaphone is one of the largest podcasting deals Spotify has made to date. The Companies have spent hundreds of millions of dollars acquiring podcast production businesses, including New York-base Gimlet Media and LA-base Ringer. The Megaphone will help increase Spotifys Ad revenue. The Market for Podcast Advertising is expected to grow at a rate of 14. 7 % to nearly 1 billion this year, according to the Interactive Advertising Bureau Podcast Ad Revenue Report prepared by PwC. The Megaphone helps advertisers target 60 000 different audience segments, such as millennial women across various Podcasts. The company says more than 20 000 publishers and advertisers use its platform. We are incredibly excited about joining Spotify to help advance the podcast medium for publishers and advertisers alike, Megaphone Chief Executive Brendan Monaghan said in a statement. We believe that Megaphone and Spotifys share value in innovation and will drive the podcast ecosystem forward around the world. Spotify has focused on growing its presence in Podcasts as it aims to diversify its business beyond music Streaming. In the third quarter, company said it had 320 million monthly active users and 22 % of them engaged with Podcasts on its platform. The Megaphone acquisition continues Spotifys plans to improve tools available for advertisers and Podcast publishers. Earlier this year, Spotify announced new Advertising technology that would track how often Spotify Podcast listeners heard Ad and what its reach was. After the acquisition closes, publishers that use Megaphone will have access to Spotifys Ad technology. Technology will bring more relevant ads to Podcast consumers, say Jay Richman, Spotifys vice president of global Ad business. The more monetization comes into industry, more that can be reinvested in amazing content, which in turn will result in a better overall listener experience, Richman said in an interview. Megaphone has about 70 employees and is owned by Graham Holdings Co. In the third quarter, Megaphone had operating losses but its revenue increased significantly in the first nine months of 2020, as both advertising and platform sales experienced rapid growth during period, according to Graham Holdings. The podcasting industry has consolidated as larger players including Spotify, IHeartMedia and SiriusXM increase their footprint in podcasting. Last month, SiriusXM acquired Podcast business Stitcher for as much as 325 million. IHeartMedia also announced it would acquire Voxnest, provider of Podcast analytics, publishing and Advertising tools, for an undisclosed amount.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

Spotify contemplating subscription podcast service

- Spotify is possibly considering launching a subscription-base podcast service that does not include access to its Premium music subscription. For a monthly fee, podcast service would offer access to original shows and exclusive episodes. It was reportedly detailed in a survey from Spotify app, according to Andrew Wallenstein, Variety's Intelligence Platform President. The survey mentioned four subscription podcast plans, starting at 3 and going up to 8 per month. The cheapest tier lets you listen to exclusive interviews and episodes with no ads from Spotify Platform. The most expensive tier, however, would let you stream high-quality original content and get early access to episodes with no ads from Spotify Platform. This all could be hypothetical, mind you. Spotify's reps have already put out statements to say it routinely conducts surveys that only serve as important learning In other words, it wants you to think it's testing waters. But the company has been investing in podcasting over the past two years, like by acquiring podcast producers such as Gimlet, Parcast, and Ringer. It also signed deals with Michelle Obama, Kim Kardashian West, and Joe Rogan. Add it all up, and it seems like Spotify sees a future where podcasts aren't free.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

Sources

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

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