Spotify is one of the top competitors when it comes to music streaming. As the company continues to push for their upcoming IPO, they’ve been heavily revamping their audio ads, as Spotify Ad Studio is currently in beta.
Their pitch to brands details a better understanding of people through music, as advertisers can reach listeners at interesting moments like commuting to and from work and during your shower. Woah! But is their recent audio-ad push truly worth it for brands?
Spotify’s newest beta, Ad Studio is a simple self-serving platform that can be used to create audio ads for brands of all sizes. Brands can create their ads within minutes and get the opportunity to grow their business through Spotify’s audio ads.
The music streaming giant claims it’s as simple as sharing your script, choosing a background track, and then they’ll take care of the voiceovers to produce your ad. From there, brands can strategically select their target audience based on who they are, where they are, which devices they might be listening from, and what they’re listening to. It’s a quick, easily-targeted way to ensure that their voice is heard.
With the power of audio, your ad sticks with listeners throughout the day. It reaches people where visual media can’t. Yes, really! From the morning shower to the car to sitting at the desk all day and back home again – your message can be heard. With millions of people streaming Spotify worldwide, they have a definite understanding of the many audiences, their segments, and the best means of reaching them.
The Question of Worth:
But wait, isn’t the whole purpose of Spotify that recurring streamers, aka the real music lovers can pay only $9.99 for unlimited and uninterrupted music? That’s right, Spotify members aren’t served ads. So what happens with all those active members?! If you ask me, that sounds like a sticky situation with Spotify wanting to pitch moreso to brands.
While these ads might be more measurable than traditional radio advertising methods, their worth has been questioned by brands. And it’s unclear how many streamers you’d reach without a membership compared to those who are avid music listeners and of course, subscribers to the platform. If brands were to utilize Spotify, wouldn’t they want to access all of its capabilities – one of those being its members?
While Spotify is pushing their new ad studio in preparation for their IPO, it may not be worth your breath – figuratively speaking.