Podcasts to the fore
Spotify is looking to better show off podcasts on its platform. The audio streamer is currently working up plans to make the content more prominent, having recently road tested something tagged Your Daily Drive, a personalised playlist mixing up recommended music and podcasts.
Spotify has been busy buying up podcast assets in recent months to boost its capabilities in the space. Its most recent acquisition, podcasting studio Parcast, cost it a cool €50m, and that move followed the purchase of podcast outfits Gimlet and Anchor, which added up to a €308m spend.
“Over time, our ambition is to develop a more robust advertising solution for podcasts that will allow us to layer in the kind of targeting, measurement, and reporting capabilities we have for the core ad-supported business,” Spotify said in its first-quarter report.