Spotify has achieved double-digital growth in its ad business according to WARC. The report forecasts ad revenue will reach $2.1 billion in 2024 and continue to rise in the coming years.
The global user base is also steadily growing, with more users opting for the ad-supported subscription. Audio and video ads on Spotify drive 66% more sales, and podcast ads have a 13% higher conversion rate when the host reads the message.
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The Rapid Growth of Spotify as an Advertising Platform
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