Spotify is to launch broadcast-to-podcast technology fully integrated into Megaphone.
Megaphone is Spotify’s one-stop-shop for enterprise publishers to create, monetise and measure their podcast businesses.
This specialised tool makes it simple to turn existing audio content into on-demand podcast content, providing a new opportunity to re-distribute and re-monetise content.
Available to Megaphone publishers globally, broadcast-to-podcasts enables broadcast publishers like FOX News Radio to reach new audiences, unlock more monetisation opportunities, and give loyal fans more access to their content from anywhere.
Spotify says it is launching this technology because radio listeners are moving from terrestrial radio to broadcast radio online in droves as they tune in via their digital devices. It also says that consumers want to listen to their favourite audio content on their own schedule, which has contributed to the rise in podcasting.
The shift in listener habits represents an opportunity for broadcasters, who already have a large catalogue of premium content, but lack the tools to easily convert it to an on-demand podcast.
It’s thought that this launch will enable broadcast publishers to reach previously hard-to-reach audiences like Gen Z, who prefer to get their news through digital channels like podcasts, and offers a huge revenue opportunity.
Emma Vaughn, Global Head of Advertising Business Development & Partnerships says: “The way listeners engage with audio is constantly changing and we know that digital audio is increasingly becoming their preferred way to listen, especially Gen Z.
“With this new broadcast–to-podcast feature, we’re empowering radio publishers to reach existing audiences throughout their day, but to connect with new, younger audiences.
“What’s more, we’re excited to unlock a new revenue stream for broadcast publishers as we make it easy for them to monetize their podcast content themselves or as part of the Spotify Audience Network.”
After a simple, one-time setup process, broadcast-to-podcast automatically creates new podcast episodes from content previously broadcast.
Ad marker locations are automatically identified and users have the flexibility to either replace or remove the identified ad locations based on their placement in the broadcast stream. This gives users the ability to dynamically re-insert new ads for additional monetisation or replace old ad locations with other content.
Publishers can also take this opportunity to tap into Megaphone’s monetisation tools, including the Spotify Audience Network, which helps to monetise unsold inventory.
