Digital music service, Spotify, has announced that it is acquiring Chartable and Podsights – two prominent podcast marketing and advertising attribution companies. The acquisition will be the first major buyout for Spotify this year.
Why Is Spotify Acquiring Podsights and Chartable?
Podsights and Chartable enable podcasters to include tags in their shows that are used to track who listened to an ad, and whether or not those users took action upon hearing the ad or not. Spotify plans to bring Podsight’s technology to the “full scope of the Spotify platform, including audio ads within music, video ads, and display ads.”
As for the Chartable acquisition, it appears to be more directed toward podcasters themselves as opposed to advertisers, due to its SmartLinks technology.
As said by Spotify:
“These tools will make it easier for publishers to turn audience insights into action and expand their listenership while ultimately growing their businesses”.
Considering Spotify intend on making its ad platform the best and most powerful in audio, the deal manifests itself as rather critical for the company.
Over the past few years, Spotify has been on a bit of an acquisition spree. Last year alone, the company acquired:
- Podz
- Whooshkaa
- Findaway
- Locker Room
In addition to the company’s acquisition of various technology and audiobooks, Spotify has also been recruiting some major talent, including Joe Rogan’s podcast, and more.
