Spotify has added new capabilities to its Ads Manager platform, including changes to the Ad Exchange platform, a new ad manager, and AI tools for script and voiceover generation. The platform will provide advertisers with access to its engaged users. Spotify is also expanding its cooperation with Google and Magnite on the ad exchange platform.
Spotify has made advertising on its platform more accessible, including enhancements in buying, creation, and measurement. The platform has been modernised, and industry collaborations have grown. During the inaugural Spotify Advance event in New York City, Spotify demonstrated new ad possibilities that will help the platform reach its full potential.
The Spotify Ad Exchange (SAX) has been created, allowing advertisers to access Spotify’s engaged consumers via real-time auctions. SAX is accessible from The Trade Desk, Google Display & Video 360, Magnite, Adform, and Yahoo DSP, with more to follow.
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The music streaming platform is also updating its Ads Manager with new tools and solutions, such as improved targeting and measurement capabilities, as well as providing new opportunities for advertisers to collaborate with Spotify, such as in-house agencies, Creative Lab, AUX, and Spotify Gen AI ads.
Advertisers in the United States and Canada may utilise generative AI in Ads Manager to create scripts and voiceovers for free. Gen AI Ads will be introduced in the United Kingdom.
Spotify is also offering new measurement options, including an improved Spotify Pixel, as well as collaborations with third-party companies such as DoubleVerify, IAS, AppsFlyer, and Kochava.
Spotify’s Creative Lab works with businesses and creative firms to develop innovative ads for the platform. AUX, an in-house music consulting agency, elevates businesses by using its experience in music, culture, artists, and fanbase. Visa and Kona Big Wave join AUX, while Coke Studio’s partnership expands.
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Spotify continues to enhance its platform to assist advertisers in analysing campaign performance with its Spotify Brand Lift solution and new App Installs objective, which are supported by industry-leading technologies from third-party partners.
