Spotify is targeting radio broadcasters with its latest product update that will make it easier to covert radio shows into on-demand podcasts and offer a new source of ad revenue on existing content.
Beginning Thursday, Spotify’s “broadcast-to-podcast” technology will be fully integrated into Megaphone, the podcast ad tech and hosting platform that Spotify acquired in late 2020. The radio-to-podcast conversion technology itself comes from the Australian podcasting platform Whooshkaa, which was purchased by Spotify in 2021.
Using Megaphone, publishers will be able to input the URL to a livestream of their broadcasted content and automatically have a podcast created from that programming, according to Emma Vaughn, Spotify’s global head of advertising business development and partnerships. The “broadcast-to-podcast” tech will identify ad marker locations, giving publishers the opportunity to remove the ads that were originally aired on the live version of the program and dynamically insert new ad spots in their place, resulting in more revenue.
Companies using “broadcast to podcast” can continue to sell their own ad inventory or, in the near future, do so through the Spotify Audience Network, the audio giant’s ad marketplace.
“These publishers obviously have a ton of content that they create. The libraries are massive, [but] they don’t always have a full podcast operation that’s set up, [so] creating podcast-only content might not make sense for them,” Vaughn told The Hollywood Reporter. “That’s where ‘broadcast to podcast’ comes in because it’s seamless and allows them to join the ecosystem.”
As part of the initial rollout, publishers like Fox Corp. — which has an existing advertising and distribution deal with Megaphone for its Fox Audio Network — will use the conversion technology to create on-demand podcast versions of the broadcaster’s radio programming, though Vaughn said the goal is to attract publishers and broadcasters around the globe that “previously weren’t able to access Megaphone and access the podcast ecosystem.”
The executive also noted that converting radio programming into podcasts could give radio broadcasters a better chance at expanding their reach to Gen-Z listeners.
“More and more people are listening to content via these digital channels,” Vaughn said, “so it’s going to be able to bring some of this broadcast content that was maybe more isolated to a certain type of demographic to the Spotify demographic and to these young audiences that they haven’t been able to capture before.”
Source: The Hollywood Reporter