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Spotify to Acquire Podcast Advertising Platform Megaphone

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hollywoodreporter.com
hollywoodreporter.comhollywoodreporter.com:

Spotify has agreed to acquire podcast advertising and publishing platform Megaphone in a deal that could significantly significantly expand its targeted ad business.

The music streaming giant is paying $235 million for Megaphone, according to a source familiar with the terms, making this one of its largest acquisitions in the podcast space to date.

Founded in 2015, Megaphone provides podcasters with the tools to monetize their work through a technology called dynamic ad insertion that allows targeted and personalized ads to be swapped in and out of shows.

The company says on its website that it works with some 20,000 publishers and advertisers, including Spotify and studio division Gimlet.

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