Global Media Agency UM Worldwide will be part of the development and testing of this first-of-its kind brand safety tool
SYDNEY, June 16, 2022 /PRNewswire/ -- Spotify (NYSE: SPOT) and Integral Ad Science (Nasdaq: IAS) today announced a new partnership to establish a third-party brand safety solution for podcast advertisers. The companies will embark on a rigorous analysis to help the industry understand the tools and resources necessary to effectively deliver brand safety in podcasting and digital audio writ large. Ultimately, the firms intend to create the industry's first third-party brand safety and suitability reporting tool to bring more transparency and confidence to podcast advertising. Global media agency UM Worldwide will be part of the learning and development process as the first holding company to test this solution, ensuring that the voice and needs of advertisers are considered from the outset.
The solution will be powered by Spotify’s first-party data and verified by IAS’ independent analysis solutions based on the Global Alliance for Responsible Media’s categories and guidelines.Their initial efforts will focus on third-party content within the Spotify Audience Network.
Podcast ad spend has grown rapidly over the past few years alongside an influx of listening worldwide. In fact, podcast ad revenue surpassed $1 Billion in 2021 and is forecasted to almost triple to more than $4 Billion in 2024. As investment and innovation in podcast advertising has surged, so has the importance of ensuring suitability for advertisers. There are well-established brand safety guidelines and technology across the digital advertising ecosystem, most notably in video; however, these do not yet exist in audio. Creating a third-party solution for this now mainstream medium is critical to maintain advertiser confidence and continued media spend.
To solve this challenge, Spotify and IAS are embarking on a joint effort to better understand how to responsibly and effectively validate that advertiser messages are served in their intended context for podcasts. In the future, the results will be used to create a first-of-its-kind brand safety and suitability tool to aid in campaign planning, management, and reporting.
The solution will be powered by Spotify's first-party data and verified by IAS' independent analysis solutions based on the Global Alliance for Responsible Media's categories and guidelines.Their initial efforts will focus on third-party content within the Spotify Audience Network.
"Spotify pioneered the digital audio landscape as we know it today and we're excited to continue our leadership here as we rise to the next challenge: brand safety," said Julie Clark, Global Head of Advertising Revenue Innovation at Spotify. "We are pleased to be partnering with IAS – one of the most trusted leaders in media – to give advertisers confidence that their messages are heard in the right place while further validating the contextual targeting solutions we already have in the market."
"Partnering with Spotify and UM to develop a podcast brand safety and suitability solution will be a transformational step for advertisers targeting the audio space," said Yannis Dosios, Global Chief Commercial Officer at IAS. "With podcasts expected to reach more than 500 million listeners worldwide by 2024, this solution will offer advertisers more control and confidence that their messages will deeply resonate with their intended audiences."
"Podcasts have hit the mainstream in a big way and our clients are ready to increase their investment in the space given the undeniable opportunity to connect with audiences; however, without a way to validate brand suitability across the depth and breadth of shows, they are hesitant to go all in," said Joshua Lowcock, Global Chief Media Officer at UM Worldwide. "We're pleased to see Spotify and IAS step up to create a brand safety solution and are ready to work with them during the building and testing phase to ensure advertisers' needs are addressed from the start."
About Integral Ad Science
Integral Ad Science (IAS) is a global leader in digital media quality. IAS makes every impression count, ensuring that ads are viewable by real people, in safe and suitable environments, activating contextual targeting, and driving supply path optimization. Our mission is to be the global benchmark for trust and transparency in digital media quality for the world's leading brands, publishers, and platforms. We do this through data-driven technologies with actionable real-time signals and insight. Founded in 2009 and headquartered in New York, IAS works with thousands of top advertisers and premium publishers worldwide. For more information, visit integralads.com.
Spotify transformed music listening forever when it launched in 2008. Discover, manage and share over 82 million tracks, including more than 4 million podcast titles, for free, or upgrade to Spotify Premium to access exclusive features for music including improved sound quality and an on-demand, offline, and ad-free music listening experience. Today, Spotify is the world's most popular audio streaming subscription service with 422m users, including 182m subscribers, across 183 markets.
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Source: Integral Ad Science (IAS) Related Stocks: NASDAQ:IAS