Ad spending on audio ads grew 11% year-over-year, while digital display ads increased by 3%, signaling continued investment in audio platforms like Spotify.
Spotify leads the US digital audio market in ad revenue, growing its market share this year despite competition from Pandora, which saw only a 2% revenue increase.
According to Alberto Leyes, Head of Product Strategy at Guideline, Spotify's advanced transparency in programmatic placements is reshaping how advertisers manage costs and control.
The top three product categories investing in Spotify this year include CPG, Technology, and Retail, with Wellness seeing the largest year-over-year investment increase of 66%.
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