By Omar Oakes
Earlier this month, much of the world’s media breathlessly reported that Omnicom had struck a $20m with Spotify in a “global strategic podcast advertising partnership”.
The companies’ joint announcement was fairly light on detail, but such is the excitement around podcasts as a growing advertiser platform that it has caught the attention of the industry and the stock market. Shares in Spotify jumped 3.5% after the deal was announced on 8 July.
For Omnicom, $20m is not a large amount – its media buying group manages about $35bn in global spend – but for Spotify it’s a landmark move that helps strengthen its push to become the world’s pre-emi
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