Spotify has announced a collaborating with Oracle Data Cloud that will offer custom audience building tools for auto advertisers. Recent data suggests that Spotify users purchase new vehicles at a higher rate than non-listeners.
Auto advertisers can now build custom audiences of potential car buyers across the US using Oracle Data Cloud’s solutions alongside Spotify’s streaming intelligence tools. The collaboration is designed to reach desired listeners at the appropriate segment and stage of the car buying cycle, then measure how those audiences purchased a vehicle.
Ford has already begun utilizing the service, Spotify says, using niche Polk Audiences powered by Oracle from IHS Markit’s automotive dataset.
Spotify cites recent data from Polk Measurement at IHS Markit, indicating that Spotify users purchased new vehicles at a 26 percent higher rate than the national average of car buyers in 2018. In addition, the study found that Spotify users purchased 38 percent more Entry/Economy/Compact vehicles and 24 percent more luxury SUVs than the national average.
“Oracle Data Cloud can help auto advertisers identify and reach the ideal audiences on Spotify,” said Patrick Thomas, Oracle Data Cloud’s head of partner management for consumer platforms in the announcement.
“Beyond audiences, Oracle Data Cloud also helps auto advertisers close the loop by measuring the result of their campaigns back to sales using Polk Measurement from IHS Markit, so they can analyze and improve their campaigns and get even more Spotify listeners on the road again.”
Spotify is emphasizing the importance of data-driven advertising by offering new tools aimed at a myriad of potential industries.
Earlier this month, Spotify Ad Studio unveiled a new set of streaming conversion metrics that reveal how listeners responded after listening to an ad. The addition was made in response to labels and artist teams who requested more insights into how a campaign impacted consumers.
New metrics available inside Spotify Ad Studio include how many listeners listened to the artist after hearing the ad, whether the ad performed better with existing listeners or new ones, songs saved to playlists and more.
Spotify ended 2018 with 96 million paying subscribers globally, a 25 million increase year over year. For the fourth quarter, Spotify posted its first-ever quarterly operating profit of €94 million ($105.5 million) and closed out 2018 with €5.26 billion ($119 billion) in revenue, up 28.6 percent from 2017.