The Swedish streaming service Spotify – Photo: Imago
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Podcast advertising in Europe is increasing significantly. The Omnicom Media Group (OMG) and Spotify are therefore entering into a podcast advertising partnership. Among other things, this gives OMG access to the advertising space of the audio streaming provider.
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As Spotify announced in the run-up to the Cannes Lions, the agreement contains a booking volume of 15 million euros. The agreement will come into effect later this month and will run until the end of 2022.
“The number of podcast listeners in Europe continues to grow, so now is the right time to strengthen such an important partnership,” said Rak Patel, Head of EMEA Enterprise Ad Sales at Spotify. “By sharing the reach of Spotify and our extensive range of advertising formats with OMG’s customers, we will be able to better develop our creativity in addressing diverse target groups. In addition, we will be able to measure the podcast advertising impact and the interaction between listeners and brands even better.”
In 2021, Spotify’s annual advertising revenue exceeded one billion euros for the first time. In the first quarter of 2022, the online service’s advertising revenue increased by 31 percent to 282 million euros. That’s the best first-quarter results for ad-supported revenue ever, according to Spotify. Omnicom Media Group manages approximately €35 billion in global advertising spend annually. Customers include PepsiCo, Chanel, Volkswagen GroupM, AT&T, HSBC, Activision, McDonald’s and State Farm.
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