Spotify is the world’s largest music streaming platform, with more subscribers than any other service. Spotify offers users access to one of the biggest collections of music in history, plus podcasts and other audio content. But access to this music library comes with a cost; users can either endure audio ads between every few songs or pay $9.99 per month for an ad-free experience.
Since not every user is willing to pay the monthly fee to go ad-free, Spotify has become a popular app for advertisers around the world. But is Spotify advertising right for your community bank? If the following positives outweigh the negatives, perhaps you should give it a try!
The bottom line? Spotify can be a great advertising tool for some companies, but might not be the perfect fit for banks due to its targeting limitations. Unless you’re planning to launch a branding campaign, it’s unlikely you’ll find success through this streaming platform. However, if you’re still interested in testing Spotify Ads, talk to an advertising strategy expert who can help you make the right decisions every step of the way.