The soundtrack of life is often described as music, and Spotify is a leader in the use of consumer listening data to communicate personally with music listeners. Spotify’s marketing strategies are based on user-based content and targeted advertising, and by the year 2021, the company expects to have over 406 million monthly active users, including 180 million paying members. Spotify uses the growing number of its freemium subscribers. Consumers discover about free music streaming through online advertising, which is used by every business.
Spotify is one of the top competitors when it comes to streaming music. The company has been considerably altering its audio advertisements as they continue to advertise for their impending IPO because Spotify Ad Studio is still in beta. Spotify has a sizable, engaged, and diverse audience.
Over 141 million of the 286 million monthly active users (across all age groups and demographics) listen to advertisements for free. Contrary to advertisements that can be glanced over in newsfeeds or search engines, users must listen to the advertisement in order to access the desired material. Having a captive audience that is paying attention, despite the fact that it may not sound ideal, is surely helpful.
While users are listening to music in the app’s free edition, quick audio commercials play every few songs. According to reports, 1-4 minutes of commercials are played for every hour of watched content. This happens infrequently enough for people to not notice it, yet frequently enough for advertisers to reach their target market. With these entirely audio adverts, you can reach your audience while they are enjoying music without worrying about formatting.
Ads might be as brief as one second or as long as thirty seconds. There is no requirement to hit a specific timestamp as long as you are under the 30-second limit.
They rely on spoken texts produced by your business, and you can add background music to the commercial to boost its impact and atmosphere.
Without the aid of a dedicated account manager, advertisers may create, set up, and manage advertising on Spotify’s self-serving ad platform. We will look more closely at this operation in a bit. Users can access millions of songs in a vast library using the app’s main functions, which are free.
In order to properly engage with their customers, brands must go to where they are. According to internal Spotify data, the family income gap between premium and free users is just about $5,000, despite the audience demographics of each group differing.
Businesses now have a new platform with Spotify on which to showcase their identities. Unlike other social media platforms that demand user attention by their very nature, customers can listen to an audio advertisement while going about their daily lives. Spotify is not a tool that every brand or company can use to its advantage, but for lifestyle businesses, being able to soundtrack a customer’s life connection. To run these spotify advertisement you can subscribe here
The typical person spends between 99 and 140 minutes every day listening to their favourite music on the audio streaming service.
With a market share of roughly 34% among the top music streaming services, Spotify leads the pack. The other significant platforms are Tencent Apps, Apple Music, and Amazon Music, with market shares of 21%, 15%, and 12%, respectively.
Spotify offers a variety of ad types to engage listeners rather than annoy them. All users of Spotify are given free access to the service because it has a freemium business model and is supported by adverts. Although users can pay to a premium account for an ad-free listening experience, most Spotify users opt for the free, ad-supported version.
The complete customer database of Spotify is accessible. They offer the advertising in a no-swipe, no-scroll setting as a result at the precise moment when the audience is most receptive. This suggests that you are able to connect with prospects at the right time.
Since users listen to tracks after adjusting their preferences, Spotify is aware of their mood. As a result, only relevant audio advertisements are played depending on the circumstance or setting. Spotify claims that 75% of viewers remember commercials that catch their “moment.”
Why Spotify is a good choice for your digital advertising campaigns
In the first quarter of 2023, Spotify’s premium subscribers in the world totalled 208 million, according to Statista.
Spotify is widely used as a music streaming service, and there is 3X as much positive as negative chatter about it online.
Around the world, people use the audio streaming service for between 99 and 140 minutes per day to listen to their favourite music.
Among the top music streaming services, Spotify has the biggest market share at roughly 34%.