Spotify Introduces In-House Creative Agency; Pinterest Launches Ad Labs; ANA Spins Off Cross-Media Measurement Solution Division

by Aimee Newell Tarín on 17th Jun 2024 in News

On today’s news digest: Spotify Introduces In-House Creative Agency; Pinterest Launches Ad Labs; ANA Spins Off Cross-Media Measurement Solution Division

Stepping up its offering for marketers, Spotify has launched an in-house creative agency, Spotify Creative Lab. The streamer intends to encourage marketers to produce campaigns which harness its range of offerings, from audio ads to live events. According to Brian Berner, Spotify’s global head of sales, the Lab is a culmination of marketer interest, the platform’s expansion beyond music, as well as its recent user growth. Currently, advertising only makes up a small portion of Spotify’s revenue, with 89% coming from payments subscribing to its premium tier. But its ad based revenue has been increasing – it saw 18% year-over-year growth in its first quarter for 2024, partly thanks to the growth in its podcasting business.

Similarly, Pinterest is launching Pinterest Ad Labs for brands to test new creatives and ad tools. They’re starting the new programme by testing generative AI features powered by personalised insight: personalised background generation, and collages for advertisers. Pinterest has said it’s working with advertisers across verticals such as retail and beauty, including Nike, Wayfair and John Lewis.

Meanwhile, the US Association of National Advertisers (ANA) has spun off the division working on its cross-media measurement solution, relaunching it as Aquila. The former division is now a separate business which will govern, operate, and executive the cross-media measurement solution. The project intends to improve media productivity and provide a better ad experience for audiences as a result of transparent measurement. The ANA claims that the project could save USD$50bn (£39bn) in waste over a three-year period.