Spotify finds new formats for more advertising opportunities.
In order to have earn more in the field of advertising, Spotify has been searching for more new formats to gain more opportunities.
A new format – 3D audiovisual advert, and it is used to release to horror film Ghost stories. A self-service Ad Studio is also included which allows brands to create their adverts within the platform. Audience can be targeted based on their age, gender, location, activity and musical taste. Budget and campaign dates can be set, and Spotify insights can be used to track the campaign’s success.
With these new formats, opportunities are created for small advertisers, which can build their own campaigns and do some advertising themselves. When there are more smaller advertisers getting involved in this platform, it may attract big clients and agencies, and they may earn more revenue by simply providing the platform for them to advertise.
Also, the data from Spotify, for instance, what songs do male and female like can allow brands to promote according to the customers’ taste. Yet, Spotify says that they cannot share the data out due to privacy problem. From this, we can see that Spotify has high potential to help marketers to advertise, and also for brands to find ways to sell them items.