Spotify Acquires Podsights and Chartable
Spotify recently announced its acquisition of two leading podcast technology companies, Podsights and Chartable. This acquisition is the latest of multiple audio purchases Spotify has made throughout the past year, as part of the company’s ongoing initiative to be a top audio platform.
In the press release announcing the acquisition, Spotify identified measurement and attribution as being the two biggest challenges for podcast advertisers. The acquisition of Podsights and Chartable is meant to resolve these challenges and provide helpful resources for podcast advertisers and creators on the media platform.
Spotify also disclosed that Podsights will continue working independently of other Spotify service functions for the time being, and there are no current plans to change the current team at Podsights.
As a podcast advertising measurement service, Podsights will be able to utilize Spotify’s technology to provide accurate measurement and insights for podcast advertisers. Spotify also vocalized intentions to expand these ad measurement services beyond podcasts in the future.
Chartable will be added to Spotify’s Megaphone and will provide podcast publishers with insight regarding their listener base. Chartable’s technology will also provide tools for publishers to help grow their audience. Chartable will eventually be fully integrated into Megaphone, though it is currently still available to new and existing clients.
This acquisition and proposed next steps are part of Spotify’s ongoing efforts to be the leading platform in audio, and the company is hoping to take advantage of the growing market of podcast advertising. Chief content and advertising business officer at Spotify, Dawn Ostroff said in a recent statement that the acquisition of Podsights and Chartable is an important part for this initiative.
“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 Ostroff.
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