Spotify changes the digital advertising industry
Sea Yen Ong, regional vice president for sales of Spotify in Asia
Spotify hosted its first Spotify Digital Day in Manila on May 22, 2018 to educate marketers and advertisers on the audio renaissance and the platform’s streaming intelligence. The event saw at least 400 attendees come together to learn how the advertising industry has evolved through the years, especially in the dynamic world of streaming.
Based on a report covered by McKinsey, 56 percent of music revenue comes from digital music streaming in Asia. According to Statista, the number of music streamers in Asia is expected to hit 813 million music by 2020. In the Philippines, the audio renaissance is especially pervasive where Spotify is the largest digital music service for users aged 15+ and larger than terrestrial radio for users aged 15 to 24.
Understanding people through music, a Spotify led research has become a key part of the brand’s data mission. As music listening is so uniquely emotional, universal and, now, addressable thanks to streaming, it can uncover deeper insights than consumption of other kinds of content like movies and TV.
When it is a holiday in the Philippines, and there's no obligation to head to the office or school the #WalangPasok playlist increase. During the recent Labor Day celebrations, streams for the #WalangPasok playlist increased by 360 percent on April 20. The same playlist saw another 156 percent increase from April 30 to May 1.
According to Nielsen, 79 percent of audio is consumed while people are engaged in activities where visual media can’t reach them, whether it’s hitting the treadmill after work, or even channeling your inner rock star in the shower. Limitless eartime allows brands to utilize sonic branding and the power of audio to engage with their audiences.
"Here in the Philippines, people are putting music at the center of their lives. They soundtrack their day to the music that they listen to,” said Sea Yen Ong, regional vice president for sales of Spotify in Asia. “When marketers are thinking of engaging with people, Spotify offers more moments for them to connect with their audience.”
Ong says that context is everything and that through listening data, Spotify allows advertisers to tap into the right moment. “Music is a mirror. It truly reflects who you are at that point in time, and this allows us to also know the context you are in,” he says.
25 May 2018