Chartable and Podsights are Spotify’s two recent podcast acquisitions.
Spotify is looking for more and more ways to grow its platform. Last year it bought many podcasting platforms, including Whooshkaa, Podz, Findaway, and Locker Room. Now, the company is announcing a couple of podcasting acquisitions.
In its recent announcement, Spotify says it would be acquiring the two major podcasting platforms and add them to its list of the acquired platform.
The platforms, ‘Chartable and Podsights’, are prominent platforms in the podcasting space.
They are not just podcasting platforms but they branch out into the marketing and advertising space.
One of the functionalities of both platforms is that they allow tags in their show, which helps them calculate the show’s metrics.
They can see the number of people who listened and if there was a conversion.
Spotify plans to integrate some of their podcasts functionalities into its platform.
It mentions that it has plans to use Podsights’ technology outside podcasting and would bring the whole scope of the platform into every sphere of Spotify.
For instance, music, video ads, display ads, and others would benefit from it.
Meanwhile, for ‘Chartable’, Spotify plans to direct the initiation to its podcasters rather than music or advertisement.
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The end goal of this acquisition (Chartable and Podsights) is for the creators on Spotify to benefit from them.
They would be able to turn the insight they get into action, expand and grow their listenership which automatically grows their businesses.
According to Spotify, the acquisition is a necessary one for the company. It is essential because it is trying to make the ads on its platform the best and, when in audio, very powerful.
So, for people to purchase its ads, they have to know the people listening to the ad and what they do afterwards.
And this can only be possible with the use of technology.
While for the marketing side, the analytics would help them know if their budget is spent well.
It is the first of Spotify’s deals this year, one of the many it has acquired in the past.
What’s for you
Spotify wants to make its platform more user-oriented, targeting the acquisition at creators and advertisers.
Hence, the acquisition will help creators know where their audience lies.
And this would make them grow their listeners base and give them what they want.
Also, Spotify would use the acquisition to expand its advertisement and marketing services.
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