The world’s number one music streaming platform, Spotify, has just announced the acquisition of Whooshkaa, an Australian-based audio services company. The move aims to implement new technologies with the Megaphone suite.
Spotify acquires Whooshkaa to improve the Megaphone suite: here are the details
The news of the acquisition was made official by the same streaming platform. Whooshkaa is an Australian company that offers independent creators, publishers, broadcasters and brands an end-to-end platform for hosting, distributing, monetizing and tracking on-demand audio. This, through specialized technology, allows radio broadcasters to transform their existing audio content into podcast content. The acquisition of Spotify seems to be aimed at integrate this particular type of technology with the Megaphone suite.
Over the past couple of years, Spotify has focused heavily on modernizing digital audio advertising. In fact, in November 2020 the brand acquired Megaphone, which allowed the platform to offer editors and creators innovative tools for monetization. Throughout 2021, the company has also improved this service, making Ad Studio tools available and introducing Audience Network. News that have definitely brought new advertisers to the platform.
The acquisition of Whooshkaa is therefore a further step in this direction, as confirmed by Spotify on its blog:
“As part of the acquisition, we plan to integrate this technology into the Megaphone suite soon.”
All this should result in more tools available to advertisers and creators, in line with the company’s strategy of market expansion (as already seen with the introduction of podcasts). We will see, in practice, what the new tools available will consist of.