Spotify is announcing the launch of its own dedicated analytics platform, which will allow advertisers to measure the performance of their audio ads on the application.
Spotify Ad Analytics launches in 11 markets today (13 June) including the UK, US, Canada, Mexico, Brazil, France, Germany, Italy, Spain, Australia and New Zealand.
The platform includes a set of tools that will allow advertisers to measure the effectiveness of their ads featured across music and podcasts.
Marketers can enable ad tracking with the platform when they install the Spotify Pixel onto their website. Results can then be tracked within a centralised dashboard, which can be accessed for no extra cost after the creation of an Ad Analytics account.
The interface features a built-in visual graph and can tell users how well an ad has performed based on a series of data points, including the number of impressions, the average number of times a unique audience member was exposed to an ad and the number of members that streamed an ad on the platform.
Per Sandell, vice president of product at Spotify, said: “With the launch of Spotify Ad Analytics, we’re making it easier for our customers to access more full funnel measurement solutions to unlock greater impact globally.
“The introduction of this new service is a critical step to proving that Spotify is not only a destination to align your brand with culture, but it's also a place to achieve your marketing goals and business outcomes.”
Spotify Ad Analytics will also report to Spotify Brand Lift – the brand’s current first-party measurement tool on offer, which also helps users measure the impact of their ads by asking them to respond to on-platform polls in a lift-test framework.
Sandell added: “As more marketers leverage digital audio in their marketing strategies, it’s imperative that we offer superior measurement solutions so they know how their campaigns are driving real impact for their businesses.”
Spotify’s latest offering joins the ranks of other innovations released this year, including an AI-driven “DJ” feature that generates a curated list of tracks for users based on their music preferences.
The developments have arisen as the company has expressed concern over potential legal ramifications surrounding AI-generated music, in addition to ways to increase ad revenue after Q1 earnings reports revealed a $251 million loss.