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Media and entertainment, technology, and FMCG companies have emerged as the key advertiser segments for music streaming giant Spotify in India.
The company had forayed into India in 2019.
The company said that it is working with over 100 brands in India which include media and entertainment firms especially OTT players, tech players, FMCG and consumer product companies, and automobile firms, among others
The music streaming giant is also looking at further strengthening ad revenues in the country by offering additional advertising tools.
Arjun Kolady, Head of Sales, Spotify India on Tuesday said that the company is looking to bring the company’s self-serve Ad Studio platform and podcast advertising technology called Streaming Ad Insertion (SAI) to India in the near future.
Ad Studio is a self-serve platform that allows advertisers to connect with Spotify listeners by easily making audio ads from scratch in a budget-friendly manner. Meanwhile, Streaming Ad Insertion makes data metrics such as actual ad impressions, frequency, reach, device points available to advertisers.
Earlier this month, the music streaming platform had said that in the December quarter it had added 25 million monthly active users on the back of “faster growth” in India, US, and Western Europe. It also stated in its fourth quarter earnings that India served “as a notable source of upside versus our forecast driven by successful marketing campaigns.”
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