Spotify has provided details on how they intend to increase their advertising revenue. The streaming giant’s revenue is currently being dominated by paid subscriptions (88%); according to their Q2 2021 report.
Announcing these changes in a blog post; users (podcasters) of Spotify’s Anchor will join its ads marketplace, Spotify Audience Network, which was launched earlier this year. Also, users (smaller businesses and independent artists) can now buy podcast ads on Spotify Ad Studio. This is currently available to US users only.
Lastly, Spotify is the first audio service firm to join the Global Alliance for Responsible Media (GARM).