One of the leading music streaming platform Spotify is actively working to expand its business and focus more on podcasts. Accordingly, the company announced the acquisition of two companies related to podcasts – Chartable and Podsites.
The company has disclosed financial details related to these acquisitions. This is the first major acquisition this year in the audio related business. A team of about 40 full-time employees of PodSite will join Spotify. The company says it has no plans to regulate that team now. On the other hand, the chartable will be added to Spotify’s megaphone.
Both companies operate in the field of podcast marketing and advertising attribution.They help advertisers measure and scale their podcast ads well.
Speaking further about the acquisition of the podsite, Spotify says it will use technology outside of podcasting and bring it to the “full scope of the Spotify platform, including audio ads, video ads, and display ads within music.”
As for Chartable, Spotify plans to focus more on podcasters instead of advertisers. It integrates its audience statistics and its promotional tools, SmartLinks and SmartPromos with the megaphone so that podcasters can grow their business.
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