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On Wednesday Spotify announced the purchase of Podsights and Chartable. Podsights is an advertising measurement service and Chartable is a podcast analytics platform. Terms of the transactions were not disclosed.
In a press release Spotify says Podsights will help Spotify advertisers understand how podcasts ads drive actions that matter to their businesses. Spotify plans to extend the Podsights measurement capabilities beyond podcasts to audio ads within music, video ads, and display ads.
The company says Chartable will help Spotify’s podcasters grow their businesses through their podcast platform Megaphone by adding Chartable’s audience insights and promotional tools to Mageaphone’s suite of tools.
“We believe we’re still in the early chapters of digital audio and the opportunity for advertising in this space remains significant,” said Dawn Ostroff, Chief Content & Advertising Business Officer at Spotify. “Our acquisitions of podcast technology players Podsights and Chartable are important steps in our pursuit of taking digital audio to the next level, underscoring the powerful impact it delivers for advertisers and publishers, respectively.”