Over the last two years, Spotify has taken great strides to “modernize” digital audio advertising and, in turn, “drive growth for creators and publishers while delivering impact for advertisers.”
This included the November 2020 acquisition of Megaphone, enabling Spotify to offer podcast publishers new ways to monetize their content. In 2021, new features for Streaming Ad Insertion, podcast ad buying in Spotify Ad Studio and the introduction of the Spotify Audience Network came to fruition.
With a commitment to continuing to help publishers around the globe grow their podcast businesses, Spotify has moved forward with the acquisition of an Australian podcast technology platform that the company says gives independent creators, publishers, broadcasters and brands “a cost effective, end-to-end platform to host, distribute, monetize and track on-demand audio.”
What does the purchase of Whooshkaa mean for publishers and advertisers, or for broadcast radio eager to thwart technology companies for stepping on its toes?
“With the integration of Whooshkaa’s broadcast-to-podcast technology into Megaphone, radio broadcasters will be able to more easily and quickly turn their existing audio content into a podcast and access Megaphone’s industry-leading, differentiated suite of tools and technology,” Spotify explains.
Thus, there is a big opportunity for broadcasters to grow their NTR through a platform powered by an on-demand audio source.
Megaphone is the podcast platform of choice for AdLarge Media, as well as The Wall Street Journal.
“Integrating Whooshkaa’s innovative broadcast-to-podcast technology means we’ll be able to bring even more third-party content into the Spotify Audience Network, helping advertisers to connect with even more audiences,” Spotify notes. “We believe we’re on the precipice of immense growth for the entire digital audio industry.”