Spotify announced the acquisition of podcast technology companies Podsights and Chartable in order to advance podcast measurement for advertisers and insights for publishers.
Podsights is a podcast ad measurement service that helps advertisers better measure and scale podcast ads. Chartable is a podcast analytics platform that enables publishers to identify and grow their podcast audiences through promotional attribution and audience insight tools.
Spotify’s latest deals follows the company’s earlier acquisitions in the podcast market, including Australia-based podcast technology platform Whooshka, US-based podcast advertising & publishing firm Megaphone and podcast discovery platform Podz.
With the acquisition of Chartable, Spotify plans to further enhance Megaphone’s suite of tools with the integration of Chartable’s audience insights and promotional tools, SmartLinks and SmartPromos.
“According to eMarketer, annual U.S. digital audio advertising revenue is poised to grow to nearly $8 billion—and of that, $2.7 billion for podcast advertising alone—by 2025. We believe the next step to unlocking this growth is demonstrating audio advertising’s impact through innovations in measurement and attribution for advertisers and audience insights for publishers,” Spotify said in a blog post.
“We believe the opportunity for digital audio and podcast remains significant. With these acquisitions, we’re taking a big step in upleveling digital audio measurement and insights to help the entire industry scale to new heights.”
Financial terms of the deals were not disclosed.