Spotify is making more podcast acquisitions. The company announced today it’s acquiring both Chartable and Podsights — two of the most prominent podcast marketing and ad attribution companies. The deal price hasn’t been disclosed, but this marks the first major acquisition the company has made this year in a long line of audio purchases.
Both Podsights and Chartable allow podcasters and networks to include tags in their shows that are used to track who listened, if they heard an ad, and whether they took action upon hearing it. Spotify says it plans to use Podsights’ technology outside podcasting and will bring it to the “full scope of the Spotify platform, including audio ads within music, video ads, and display ads.” The Chartable acquisition appears to be more directed toward podcasters themselves rather than advertisers, particularly because of its technology like SmartLinks.
“These tools will make it easier for publishers to turn audience insights into action and expand their listenership while ultimately growing their businesses,” Spotify writes.
This deal is particularly critical for the company as it tries to make its ad platform the best and most powerful in audio. If it wants everyone to purchase ads through its marketplace, then it needs technology to better figure out who’s listening to those ads and what they’re doing after hearing them. At the same time, marketing analytics are critical for show creators who want to ensure they’re spending their budgets well. This deal helps both creators and advertisers, two groups Spotify needs and wants to court.
Spotify has been on a podcasting acquisition spree in recent years, spanning across advertising technology, audiobooks, and top creative talent. Last year, the company bought Whooshkaa, Podz, Findaway, and Locker Room to offer and promote more spoken audio content, which followed its purchase of the major podcast ad platform Megaphone in late 2020. At the same time, Spotify has been scooping up major talent and shows to run ads on, including Joe Rogan’s podcast, as well as Gimlet, Parcast, and The Ringer.