Next in Media sat down with Chloe Wix, Head of Global Product & Commercial Growth at Spotify at the company's beach venue in Cannes, to talk about AI-generated audio ads, why Spotify is leaning more into monetizing non-subscribers, and whether the 'background' medium can graduate into the video ad market. 💡Takeaways: 🎧 Shifting Perception of Spotify's Business Model: While initially perceived primarily as a subscription service, Spotify is increasingly demonstrating its commitment to advertising, investing significantly in its ad-supported side. 🎬 Rise of Video Podcasting: Spotify observes a strong user desire for deeper engagement with podcasters, extending to visual elements like set design and mannerisms. 🔄 Breaking Traditional Media Plans: Spotify's integration of both audio and video advertising is disrupting conventional media buying, where teams are often segmented for audio, video, or social. 🤝 Demand for Native and Upfront Deals: Brands continue to value authentic relationships with creators, leading to an increase in annual, upfront deals with major podcasters. ⚙️ Automation as a Key Goal in Advertising: Spotify's number one goal on the advertising side is automation. 📊 Enhanced Measurement Solutions: Spotify is heavily investing in robust first-party measurement tools (e.g., Spotify Ad Analytics, Pixel) and deepening partnerships with third-party measurement providers like Claritas, Podscribe, and Arts.ai to provide comprehensive data and analytics for advertisers. 🤖 AI in Ad Delivery and Creation: Spotify is leveraging AI for ad delivery, allowing advertisers to set goals (e.g., maximize spend, unique reach, purchases) and have ads delivered to users most likely to take a desired action. 🎙 Guest: Chloe Wix 🎤 Host: Mike Shields 📺 Sponsor: Elemental TV & VuePlanner 🎬 Producer: FEL Creative
