Spotify logo

Spotify’s head of advertising business Lee Brown has signalled the company’s plans to go on a hiring spree outside North America to bolster its ad revenues.

“We are increasing our ads business marketing workforce by over 70% in Europe, Australia and Canada… and that’s off a pretty sizeable base,” he told the Financial Post. “We’re investing in our advertising business. As far as long-term strategy, I think gone are the days of advertising being less than 10% of our overall revenue.”

Ads accounted for 11.8% of Spotify’s revenues in the second quarter of this year, up from 6.9% in the corresponding quarter last year. Those revenues grew by 110% year-on-year, in contrast to 17% growth in subscription revenues.

The interview came as Spotify expanded its Megaphone podcast advertising platform to Germany, France, Spain and Italy as part of its European expansion.

EarPods and phone

Tools: platforms to help you reach new audiences

Tools: Kaiber

In the year or so since its launch, AI startup Kaiber has been making waves,…

Read all Tools >>

Music Ally's Head of Insight

Leave a comment

Your email address will not be published. Required fields are marked *