Spotify is adding Chartable and Podsights to its list of podcast acquisitions. The company announced Wednesday acquiring these well-known podcast marketing and ad attribution companies. The company has put the deal price behind the veils. However, this acquisition is said to be the first major one by the company this year.
Podcasters and networks using both these platforms are permitted to include tags in their shows which in turn can be used to track who listened, if they heard an Ad, and whether any action was taken by them upon hearing the same.
Spotify writes, “These tools will make it easier for publishers to turn audience insights into action and expand their listenership while ultimately growing their businesses.”
According to The Verge, “This deal is particularly critical for the company as it tries to make its ad platform the best and most powerful in audio. If it wants everyone to purchase ads through its marketplace, then it needs technology like Podsights’ and Chartables’ to better figure out who’s listening to those ads and what they’re doing after hearing them. At the same time, marketing analytics are critical for show creators who want to ensure they’re spending their budgets well. This deal helps both creators and advertisers, two groups Spotify needs and wants to court.”
Spotify has spread its web around advertising technology, audiobooks, and top creative talent with its podcasting acquisition spree in past years by buying various platforms like Whooskaa, Podz, Findaway, and Megaphone (a major podcast ad platform) in late 2020.