Is it worth Advertising on Spotify in 2020 ?
When you think about investing your dollars on marketing, Spotify probably doesn’t come into your mind first. And yet, you might have found radio, a very conventional and mass appealing means of marketing. You could even think about spending some of your dollars on YouTube on online marketing. Here we will figure out Is it worth Advertising on Spotify in 2020 ?
While many people are still listening to music on traditional radio stations and music videos are among the most popular content types on YouTube, Spotify is rapidly becoming your favorite way to listen to music. Hence devoting some of the marketing to Spotify makes sense.
By the end of 2019, with 271 million users including 124 million subscribers across 79 countries, Spotify has become the most popular global audio streaming subscription-based service in all. They claim to be the biggest profit generator in today’s music industry.
Fortunately for advertisers, Spotify has acknowledged its marketing success potential, and now has a well-organized platform for advertising.
Great potential in advertising on Spotify.
You may look at Spotify in certain respects as having two things. You have the free ad-supported product Spotify, on the one hand. However, the most addicted Spotify users upgrade to Spotify Premium, which is ad-free. Spotify fits the traditional freemium model very well.
But, while there is little marketing incentive on Spotify Premium, there are still large numbers of people using the free version of the app. Spotify has 271 million annual users per month (MAU) according to Spotify’s Q4 2019 Annual Report. This is up from previously 207 million a year. Premium subscribers surged from 96 million to 124 million over the 2019 year. There must be some overlap, because the report also states that as of Q4 2019 they had 153 million monthly users, up from Q4 2018’s 116 million.
Statitics via Statista
Another way to look at the value of Spotify ads is to look at the financials for Q4 2019. Although the bulk of their revenue comes from Premium subscriptions (€1,638 million), Spotify’s €217 million received from advertising is still a considerable amount. Perhaps more importantly, advertising revenue from the previous quarter jumped a solid 27 percent, compared with a smaller 5 percent increase in revenue from Premium subscribers.
Spotify is obviously impassioned about their platform’s potential success. “We are thrilled with the underlying business trends. And don’t understate the power of streaming audio. Streaming accounts for 62 percent of the world ‘s music salesnow, and that’s just the Paid subscribers – those who download music for free (and thus have to listen or watch ads) don’t even figure into the equation.
Why Spotify advertisement?
Spotify has a formal advertising marketplace, as do Facebook and Instagram. This makes ads an easy process at Spotify. In 2017 they launched Spotify Ad Studio to streamline the advertising process and give potential advertisers a variety of options.
Because most people are now used to the freemium model, the free users of Spotify await ads with their listening. Those who actively hate adverts willingly pay for a Premium service subscription. This leaves people who agree that they will hear advertising as the “price” to receive free streaming of their favorite music. Spotify has one advantage over a large number of applications. At some point, most people would have been listening to the radio, where they hear advertising between the songs. They are already used to listening to music which is funded by advertising. Spotify, however, is one step better than the radio. You can create your own playlist and don’t depend on some program director’s whims
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How can you advertise Spotify?
There are several types of ads you can make for Spotify and maybe surprisingly, not all of them are visual. This means that if this is where you believe your target audience is spending their time, you can easily build a whole promotional campaign centered on Spotify.
Mercifully (from the viewpoint of the users), you ‘re not breaking up songs for advertising to play. Spotify plays sound notifications between songs
Spotify plays audio ads on all versions of the app, regardless of which device you use.
You may create audio ads with a length ranging from 15 to 30 seconds. Technically, an audio ad on Spotify is better than its radio counterpart. You can also create a picture that a user can click on to do some action; it might take them to a different landing page for example.
You can specify the music types your ads will be connecting to. Make sure you concentrate on what kind of music your target market listens to. You can also customize your ads to a specific geographic region so mentioning it in your copy may be a good idea.
This is also important to note that Millennials and Generation Z are the biggest spotify listeners, but they have also taken off with older audiences. The younger generations do not like loud, in-your-face ads, so don’t create those annoying ads that you often hear on the radio or watch on TV. Make sure that your ad is important to your target audience, or they’ll totally turn off.
Spotify offers you two ways to use content in your ads.
First, you should produce a video of Takeover. Here, you buy an ad spot between songs, similar to the audio advertising, except in this case, instead of a static image, you display a full-screen video.
Users who use it exclusively for playing music are unlikely to watch a video on the web.
Spotify has also worked with several organizations to fund a show of songs.
Some businesses may prefer using the same types of display ads they use on other platforms. These are very similar to the show ads that you see on other pages, which Google Ads also offers.
Spotify shows 30-second display ads, usually at the top of the Spotify browser. Even Spotify is smart enough not to add the show ads over some other kind of advertisement. Users can click on a display ad and a targeted landing page, for example, will take them through to wherever you choose.
You can choose between three types of show ads:
Acquisition of the homepage-this is a clickable ad. The user’s Home Page changes for a while to show the advertised brand
Megabanner – your usual banner ad looks much like those. They take up the user’s lower part of the screen
Overlay-these starts as a full-screen ad, but by clicking on the X, the user can close them. If the user has not yet clicked on an Overlay ad, they will shut down after 30 seconds
Although most companies advertising on Spotify do so formally through the Spotify Ads Studio, that is not your only choice. You have another chance. Some of Spotify’s strengths is that you can create music playlists, and make them available for use by anyone. You can also upload an appropriate image to use in your sponsored playlist
Hence you can easily build and name a playlist after your brand. Obviously, you’ll want to compile a list of songs that will cater to your target audience.
All this takes is some imagination, and possibly a way to market your playlist off Spotify, as there will be thousands of other playlists assembled by others, of course.
Creating a supported playlist would help you get closer to your target audience and connect with customers you like.
You will, of course, want to think carefully about any playlist that you make. There’s no point in bringing a disjointed collection of songs together. This means that you need to use psychology to create the perfect list of songs, with each one leading to the next.
5 reasons to create a Spotify Ad
Why Spotify 1:- Months ago, advertising on Spotify was very costly and these restricted ads Spotify only to big business. However, Spotify unexpectedly became accessible to small and medium-sized businesses with the launch of Spotify Ad Studio is a self-service platform in 2017.
Why Spotify 2:-Companies may upload their advertisements to Ad Studio directly, and set their own budget and targeting criteria. It operates in a very similar manner to Facebook, TikTok, and most other social networks advertising platforms.
Why Spotify 3:-You don’t even need to grab your own ads. Only upload a script and pick correct background music. Spotify technology will capture the script and carry it all to
Why Spotify 4:-If you have a bigger budget then you may consider adding video or display advertisements to your campaign mix. Research reveals that Spotify users spend a relatively long time staring at their apps, which means that your target audience would have a fair chance of seeing your more visual advertising.
Why Spotify 5:-Spotify Ad Studio, like all self-service advertisement networks, guides you through a phase, helping you set up your ad campaign. If you want to use audio ads, you’ll need to go through the following steps.
Creating Ads on Spotify in 5 Simple steps.
Step 1:- Choose your objective
Step 2:- Upload your audio or request a voiceover
Step 3:- Target your audience – you can target your audience by demographics (such as location, age, and gender), listening behavior, or platform.
Step 4:- Set your advertising budget and schedule. There is a restriction set on budget i.e. minimum ad budget must be $250 or greater.
Step 5: Create your ad creative in the section next to > budgeting and targeting > creative > review– this is where you add details like the companion image to go with your audio ads, the ad headlines, and the link to your landing page.
Contact us for Advertising on Spotify.
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