""We have seen basically just amazing growth in both revenue, active advertisers, consumption of our formats and performance across the board," said Per Sandell, co-lead, global head of advertising at Spotify."
""Campaigns have driven strong, highly efficient performance for clients," said Christina Skirvin, senior media manager, integrated media investment."
""Record levels of advertisers" were pulled in over the last year, according to Alex Norström, Spotify's co-CEO, due to efforts to build out its ad tech stack."
Spotify's ad exchange saw a 222% increase in monthly active programmatic advertisers since its launch last April. Revenue and performance metrics have also improved significantly. Media agency Rain For Growth reported a 190% increase in Spotify spending, with programmatic guaranteed spending rising 12% and private marketplace spending increasing 64%. Spotify plans to enhance its ad offerings with automated bid adjustments and new ad formats. The ad exchange, available through nearly 50 DSPs, aims to boost profitability after years of investment.
Read at Digiday
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