Spotify’s business is still dominated by paid subscriptions: they accounted for 88% of its revenues in the second quarter of this year. However, the company has made it clear that it wants to put some welly behind its advertising business to make that a bigger proportion of its revenues.
The latest moves on that front were outlined in a blog post yesterday. They include allowing podcasters using Spotify’s Anchor app in the US to join Spotify Audience Network, the ads marketplace it launched earlier this year.
Spotify is also about to add the ability to buy podcast ads to its Spotify Ad Studio tool in the US, meaning smaller businesses (and “independent artists”) will be able to buy slots in its stable of shows.
Finally, Spotify is also joining a body called the Global Alliance of Responsible Media (GARM) – the first audio service to do so.