Highlights for advertisers from Spotify's Q3 2022 earnings
This week, Spotify released our third quarter 2022 financial performance. The platform now has 456 million MAU globally (up 20% YoY), of which 274 million are ad-supported MAU (up 24% YoY) with ad-supported revenue growing 19% YoY. As our CEO and founder Daniel Ek stated, our business is strong. We remain incredibly confident in the course we’ve charted and in the destination we’ve mapped out for ourselves.
Here are the top highlights from Q3, featuring opportunities for advertisers on Spotify:
1. Podcast advertising is creating significant impact for advertisers and growth opportunities for creators
Spotify now has 4.7 million podcasts on the platform and the number of podcasts consumed per user continues to rise. Notable releases included Archewell Audio’s Archetypes which reached #1 in the podcast charts in more than six countries. This quarter, we’ve continued to reinforce our position as a leader and innovator in the podcast space. Following our acquisition of Podsights earlier in the year, we’ve extended the platform to podcast advertisers in Europe, providing even more advertisers with access to key analytics and measurement solutions. This means that we can continue to demonstrate how audio advertising delivers great impact for advertisers, as well as growth opportunities for creators.
We also launched a new platform bundle for Megaphone podcast publishers, offering free access to both Podsights and Chartable. This will enable us to add even more premium publisher content into the Spotify Audience Network.
2. We are at the forefront of creativity and innovation in audio advertising
Instilling creativity into audio advertising is top of mind. This quarter, we welcomed many innovative collaborations with advertisers in the travel space, including easyJet, who—with the support of Spotify's unique streaming intelligence—launched the ‘Listen and Book’ campaign across European markets. The campaign enabled participants to discover their holiday personality based on their listening habits, resulting in three tailored travel experiences across Europe. Destination Canada launched an original campaign that encouraged listeners to learn more about Canada on Spotify—from its musical legacies to its cinematic landscapes—in order to inspire them to visit the country. Meanwhile, Spotify and Delta released a playlist that will update monthly to include Delta customers’ favorites.
We also flexed our internal creative muscle with the return of our award-winning Spotify Advertising campaign, A Song for Every CMO. This second iteration leverages audio as a storytelling medium through personalized tracks made for top CMOs.
3. Our commitment to growth allows advertisers to reach listeners world wide
Spotify’s focus on growth and expansion is making it easier for advertisers to reach listeners all over the world. This August, we announced the launch of Direct Sales in Belgium, the expansion of Spotify Advertising in Japan, and the addition of key new hires to the team in Brazil.
Interested in reaching global Spotify listeners? Connect with a Spotify rep, or get started right away with Spotify Ad Studio, our self-serve ads manager.