KUALA LUMPUR, Nov 11 -- Spotify Technology S.A., the world’s most popular audio streaming subscription service, has entered into a definitive agreement to acquire Megaphone, one of the world’s most innovative podcast advertising and publishing platforms.
Together, Spotify and Megaphone will help advertisers and podcast publishers realise the full potential of podcasts.
The two companies will achieve this through the power of the Megaphone Targeted Marketplace and by making Streaming Ad Insertion available to third-party podcast publishers for the first time.
With this acquisition, Spotify continues to deliver against its goal to become the world’s leading audio platform and focus on growing audio monetisation across the industry.
The acquisition follows Spotify’s launch of Streaming Ad Insertion, an innovative podcast ad technology that delivers the intimacy and quality of traditional podcast ads with the precision and transparency of modern day digital marketing.
Advertisers will now be able to activate across Spotify’s Original & Exclusive podcasts while scaling reach through the Megaphone Targeted Marketplace.
For podcast publishers, the acquisition will unlock innovative tools that will help them earn more from their work, including the opportunity to opt-in to have their content monetised, matching their listeners with even greater demand from advertisers.
Following transaction close, Spotify will soon make Streaming Ad Insertion available to all podcast publishers on Megaphone, the first time this technology will be made available to third-parties.
The closing of the transaction is subject to customary regulatory approvals.
-- BERNAMA
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