Spotify takes another step in building out its targeting tools

Spotify adds more targeting tools after missing expectations in its latest earnings report

Spotify has announced two additions to its self-serve ad platform: interest targeting and real-time context targeting.

Since April, the audio streaming company has introduced a tool to boost measurement for music marketers, tested voice-enabled ads and opened up its targeting suite to include podcasts.

Interest targeting lets advertisers choose from a list of categories that may resonate with their target audience based on data combined from their music, podcast and platform preferences.

Real-time context targeting allows advertisers to buy within certain dayparts. For example, an advertiser may want to deliver a message when a listener is studying or working out.

Ad Studio, the company's self-serve ad platform, is available in the US, UK, Canada, and Australia. Both targeting tools will be available in all four countries.

This announcement comes after the Swedish-based company reported underwhelming growth numbers during its earnings call on 31 July.

Spotify's monthly active user count jumped from 217 million to 232 million, though analysts expected that number to reach 242 million. Spotify announced that is has 124 million users of its free, ad-supported service, up one million users compared to the previous quarter.

Spotify is building out its self-serve tool as it braces for life without its ad sales lead. Brian Benedik, the company's global head of sales, is set to leave Spotify in September.

Spotify is looking toward international growth, having recently launched a lite version of its app in 36 global markets and debuted its first TV spot in India.

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