Spotify unveiled a batch of new ad features at its Advance event on Wednesday in New York City.
The audio streaming service is launching its first programmatic ad exchange platform to offer advertisers the flexibility to buy ads in the way that suits them best. Spotify Ad Exchange will allow advertisers to access users connected to Spotify through real-time auctions with full addressability and measurement capabilities. The platform is now available in Canada, the U.S., Europe, Australia, New Zealand, India, Singapore, Brazil and Mexico.
Spotify is also introducing Gen AI Ads (pictured below), which will let advertisers to create AI-assisted scripts and voiceovers at no extra cost. Canadian and U.S. advertisers can use Gen AI Ads in Spotify’s Ads Manager. As part of the company’s update, advertisers will also now be able to show ads to users who are likely to click and download their app, while new features on the platform will allow brands to optimize their campaign to the people who are most likely to visit their website.
Additionally, Spotify said it has updated its self-service Spotify Ads Manager platform with more advanced targeting features, new first party and third party measurement solutions and new performance-based targeting to help advertisers create, optimize and measure their campaigns on the platform. Spotify Brand Lift, the Ads Manager’s 1P measurement tool that helps advertisers understand the impact of their Spotify campaigns on their brand metrics, has also been enhanced.
On the creative side, the company announced that its in-house consultancy that specializes in producing content and offering creative solutions for brands has partnered with Visa and Kona Big Wave. It also said it will continue its multi-year partnership with Coca-Cola.””We partnered with Visa to respond to the evolving needs of artists as entrepreneurs and business owners. And, together with Kona, we are creating live experiences that amplify their stories during the moments that matter most and cement their place in the culture,” Spotify said.
