Spotify boosts ad measurement for record labels
Spotify has introduced a new proprietary tool offering music marketers a way to measure how their campaigns drive listening and engagement on the music streaming portal.
Dubbed 'streaming conversion metrics', the tool is available via Spotify’s self-serve advertising platform
Dubbed 'streaming conversion metrics', the tool is available via Spotify’s self-serve advertising platform. It forms part of the streaming giant's wider efforts to demonstrate to artists and labels how advertising within its walls can directly influence specific outcomes.
Mariah Czap, digital marketing manager at independent label Yep Roc Records said the tool would be useful in letting labels see how listeners are taking action even after they hear an ad.
"The new metrics give us a deeper understanding of how our campaigns are performing and how they have an impact far beyond a click," she added.
Striking out further afield Spotify, is also seeking to better serve marketers more generally by partnering with location platform Placed to demonstrate how its audience reach can translate into in-store visits.
In trials, it was possible for Placed to demonstrate that an ear-catching Baskin Robbins campaign drove no less than 430,000 verified US store visits.
For brands, Spotify has also added Nielsen Brand Effect to its third-party measurement suite which it claims demonstrated a 25% increase in brand awareness and 65% improvement in recall for those that its full-screen formats.
Amid bulking up what it offers to advertisers, Spotify has also been busy bolstering its podcast credentials with its takeover of Parcast, a move that marked its third major acquisition in the sector.
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Spotify is a music, podcast, and video streaming service that was officially launched on 7 October 2008. It is developed by startup Spotify AB in Stockholm, Sweden. It provides DRM–protected content from record labels and media companies.
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