Media buyers say programmatic spend on Spotify is increasing as platform builds its own SSP
As Spotify closes in on its first-ever profitable year, media buyers say advertisers are changing the way they spend on the platform.The audio streaming platform posted its third-quarter earnings report at the close of the New York Stock Exchange on Tuesday (Nov. 12), recording $4.2 billion (€3.98 billion) in revenue — putting it well on track to record its first profitable financial year, 16 years after it was founded.
According to media buyers and media data firm Guideline, programmatic spend is also rising on the platform. Lindsey Freed, svp of media investment at Basis Technologies told Digiday that private marketplace and programmatic guaranteed buying were up about 8% year-over-year, while clients had increased their overall Spotify spend by 75%, relative to 2023.
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