A significant proportion of Spotify users use the portal to listen to music. Spotify, however, is not limited to just music. The company sees great potential in the podcast market and is investing heavily in this direction. Another step in strengthening Spotify's position on the podcast market is purchase of Megaphone portal.
Megaphone is a very popular platform where you can find podcasts of many different journalists working in different companies. Currently, the number of podcasts available on Megaphone exceeds 5500 programs posted by companies such as Slate, Disney and Vox Media. The acquisition of Megaphone is expected to cost Spotify 235 million of dollars. Thanks to purchase of Megaphone, Spotify can now implement its technology, called Streaming Ad Insertion, into the portal, which allows for dynamic generation of advertisements during broadcasts for individual customers based on customer preferences.