Over the past two years, Spotify has focused on modernizing digital audio advertising to drive growth for producers and publishers, as well as provide impact for advertisers. In November 2020, we Megaphone acquired, Which enables us to offer innovative tools to help podcast publishers make more money from their content. Throughout 2021, we’ve unveiled new features for it Insert streaming ads, In purchasing unlocked podcast ads Spotify Advertising Studio, And introduction Spotify Audience Network. Since the launch of the Audience Network, we’ve seen a double-digit increase in fill rates and a double-digit lift in CPM for megaphone publishers to opt-in.
Simply put, by modernizing ad monetization for podcasts, we’ve been able to help enterprise podcast publishers grow their businesses, with one in five Spotify advertisers now participating in the marketplace.
We are committed to helping publishers worldwide grow their podcast business. That’s why today we’re announcing our acquisition of Whooshkaa, an Australia-based podcast technology platform that provides independent producers, publishers, broadcasters and brands an affordable, end-to-end platform to host, distribute, monetize and track. -Demand audio. Whooshkaa offers radio broadcasters a special tool that makes it easy to turn their existing audio content into on-demand podcast content. As part of the acquisition, we plan to integrate this technology into the megaphone suite soon.
This is what it means for publishers and advertisers.
Podcast platform preferred by leading enterprise publishers like Megaphone, ViacomCBS The Wall Street Journal, And the Australian Radio Network, offer a wide suite of powerful podcasting tools that can help publishers create, monetize and scale their podcast business alongside our white-glove customer service. With the integration of Hushka’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, separate suite of tools and technology.
Growing audience for advertisers
Audiences around the world have been tuned into digital audio at record rates, with no signs of slowing down. As the world’s most popular audio platform, Spotify is a place to reach advertisers.
Through the Spotify Audience Network, advertisers are able to target listeners across our podcast network, including Spotify Originals and Exclusive and third-party content, through megaphones and anchors. Integrating Whooshkaa’s innovative broadcast-to-podcast technology means we’ll be able to bring more third-party content to the Spotify audience network, helping advertisers connect with a wider audience.
Is about to begin
We believe that we are on the path to immense growth for the entire digital audio industry. To learn more about what acquisitions mean for radio broadcasters, Watch Megaphone.FM.
We would like to warn you that some of the above statements represent “advance statements” as defined in section 27A of the amended United States Securities Act 1933 and section 21E of the United States Securities Exchange Act of 1934. Modified “will”, “expectation” and similar words for the purpose of identifying forward statements. The statements we make about the potential benefits of the acquisition and the expected completion time of the acquisition are examples of face-to-face statements, but not limited to. We intend to include this statement for the purpose of being covered by the provisions of the Safe Asylum Act and to comply with the provisions of the Safe Asylum Act for the far-sighted statements contained in the Private Securities Litigation Reform Act, 1995. Such far-sighted statements involve significant risks, uncertainties, and assumptions that actual results may differ materially from our historical experience and our current expectations or assumptions, including but not limited to the risks mentioned in our filing with U.S. Securities. Exchange Commission. We do not accept any obligation to update the foresighted statements to reflect events or situations occurring after this date.