Spotify have signed a huge $20 million advertising deal with Omnicon as podcasts become a major priority for the music streaming service.
This new deal with Omnicom Media Group in their “largest global, strategic podcast advertising partnership to date”. The deal is worth $20 million and will see the American media marketing company gain first access to advertising on Spotify’s blossoming podcast offerings.
The deal with Omnicom comes just weeks after Spotify launched video advertising in the US, UK, and Canada. No doubt this was a very attractive prospect for Omnicom which may have helped seal the deal as they look to advertise their partners on popular new mediums like Spotify.
Their new partnership with Omnicom Media Group see the advertising conglomerate commited to spending $20 million in the second half of 2020. Just 0.06% of Omnicom’s $35bn annual spending budget.
Spotify’s Global Head of Advertising Business, Lee Brown said: “This partnership is a breakthrough moment for the podcast industry and audio advertising at large. We couldn’t be more ecstatic to have an agency of Omnicom Media Group’s global influence and imprint recognising the value of podcasts for their clients in such a significant way.”
At the start of the year Spotify began targeted advertising on their podcasts to appeal more to advertisers. They proved podcasts were a massive success after testing the new content on their huge music streaming platform in recent years.
Recently they have signed massive deals for some of the world’s biggest podcasts including an exclusive deal with Joe Rogan to distribute his podcast on Spotify only. They are now doubling down on both the content they have to offer for listeners and the possibilities for creators and advertisers with the new medium.
New original podcasts are coming, with Arab-Israeli vlogger Nuseir Yassin bringing his weekly ‘Nas Talks’ show to Spotify Podcasts as well as ‘An Oral History of The Office’, covering the behind the scenes details of the US version of The Office.
Brown added: “We look forward to partnering with OMG to unlock the creative possibilities of audio and building rich connections with listeners worldwide.”