With sustained growth of about 15% year over year, Spotify is taking over the role radio once played, and with that, the company is taking audio advertising along for the ride. Free users lack certain functionality and are subjected to advertisements every couple of minutes. However, unlike Netflix, Spotify offers users a free tier. Spotify, like its counterpart in video, Netflix, focuses intensively on curation and customization to create an optimal experience for users. For reference, other big networks such as Twitter and Pinterest are around the 500 million users mark. The company boasts 182 million paid premium users and 193 million monthly active ad-supported listeners (As of Q3, 2022) who use Spotify to soundtrack their lives, with its user base growing about 30% YoY with no signs of slowing down. With over 422 million monthly active users in over 80 markets around the globe, it could be an attractive channel for your brand. Spotify has literally changed the way the world consumes music and audio content. Some brands are already using Spotify as a platform to promote themselves, and the results are exciting. One such platform flying under the radar for the last few years is Spotify, and while it won’t work for every brand, it’s certainly worth considering and at least learning about! When we think about digital advertising, we often think about Facebook and Google, but sometimes getting creative and using more niche platforms can actually help you achieve your goals.
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