Spotify is making waves in India with the launch of Spotify Audience Network, a groundbreaking initiative that empowers podcast creators to earn through ad revenues. This move isn’t just about profits; it’s a game-changer for content quality, giving podcasters the financial support they need to enhance their craft.
What’s intriguing is that even Spotify’s paid subscribers won’t miss these ads, bringing a unique twist to the premium experience.
What to know? Brad Grealy, Spotify’s head of ad sales for the JAPAC region, points out the rapid growth of podcast listenership in India, a key market globally for Spotify. This new venture opens doors for brands to place ads within podcasts, reaching an audience that’s hooked and engaged, all while helping podcasters scale their operations.
The initiative is a boon for podcasters, who previously had limited options to monetize their content beyond direct dealings with advertisers. Spotify’s first partners in India using this network include Audio Pitara and Ideabrew Studios. Beyond India, the service has also launched in countries like Sweden, Brazil, Mexico, and Japan.
Strong on Indianization: Interestingly, Spotify’s Wrapped campaign insights for 2023 reveal a strong Indian inclination towards podcasts like the Shrimad Bhagavad Gita, The Ranveer Show, and Krishna – The Supreme Soul, showing a diverse range of popular genres from spirituality to education.
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Arjun Kolady, Spotify’s head of sales in India, highlights the pivotal role of podcasts in driving a 16% year-on-year global ad revenue growth. This expansion in India is part of Spotify’s larger strategy to revolutionize podcast and audio advertising, creating a vast marketplace for local advertisers and publishers.
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