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Global media review: Spotify scouts for a new media agency
The audio streaming major Spotify’s media mandate is currently handled by IPG Mediabrands' UM.
In India, Spotify works with Lodestar UM and Leo Burnett for its advertising duties. (Image source: Moneycontrol)
Music streaming app Spotify is looking for a new media agency. The company has plans to scale up its business and go beyond music and podcasts, pushing further into performance marketing, according Business Insider. As per multiple media reports, Spotify is estimated to spend $240 million in global media in 2023.
IPG Mediabrands' UM has been Spotify’s media agency since the last seven years. Spotify also has an in-house agency. Spotify is projected to spend $240 million in global media in 2023, including $50 million in North America, according to marketing research firm COMvergence.
In 2021, Spotify released its maiden global brand campaign for Spotify Advertising. The brand collaborated with FCB New York for the campaign. In August 2023, WPP and Spotify inked a global strategic partnership. With this WPP's clients have early access to Spotify's innovative ad products, first-party intelligence and creative ways to reach engaged audiences at scale.
In India, Spotify works with Lodestar UM and Leo Burnett for its advertising duties.
SPOTLIGHT
As India eyes global leadership in media, entertainment and gaming, Storyboard18's Digital Entertainment Summit, set to take place on June 27 in the capital, will spotlight the bold strategies, policy pathways and creative innovations shaping the future of the industry.
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