What do see as the main reasons for the growth in interest we see in the ad market when it comes to audio and podcasts?
A couple of reasons. One is because during the past couple of years we seen double and sometimes tripple digit growth in podcast creation and consumption. That basically means that we spend more time now than ever before on podcast. Since podcasts are getting more consumer attention, it becomes increasingly valuable for brands to tell their story towards listeners through advertising.
The second is that podcast provides an opportunity for brands to get an even closer connection to listeners. We notice that podcast listeners are extremely loyal to their favourite podcast and podcast talent. Since you are able to do native / host read ads on podcast, it really engages the listeners.
How do you think audio will affect and change the way we consume news?
Podcast listening is growing and finding new audiences every day and interest for content that explains the world around you, is really on the rise.
Podcast production is fast, cost effective and very easy, so the possibilities for accurate and reliable content is enormous, which makes news in podcasting a successful medium. For example, any one of us can easily record and publish a podcast through Anchor (Spotify owned) and publish on Spotify.
From your perspective, what are the main trends in audio advertising right now and the coming years?
We will continue to see a massive increase in podcast advertisement for the coming years but podcast the advertising product needs to evolve and become much better. It today comes with restraints. One example is accurate insights and measurement. Another trend is programmatic audio and one day also self service within the audio space. Just as display and video has gone through that journey the past years, audio will do the same
What do you see as the key factor behind Spotify’s success in reaching costumers and attracting new customers?
Because we are in the golden age of audio. Never ever before have we listened to more music and podcast than we do today, and increasing. The value exchange is massive. Our users get the world library of music and podcast right in their pocket, to enjoy anytime, anywhere. The fact that we have an option for everyone, premium if you like to skip ads or free if you enjoy the tradeoff for ads.
Popularity in podcast which will continue to grow is one factor. Another is to personalization. We continue the innovation to develop product so every listener gets a personal experience on our platform with discover weekly. Other innovations are Lyrics and Blend.