Spotify has launched its first in-house creative agency called Creative Lab to help brands create customized marketing campaigns. Led by Kay Hsu, the agency aims to leverage Spotify’s large listener base to offer tailored advertising solutions such as video and audio ads, in-app digital experiences, and call-to-action cards. Despite advertising making up only 11% of Spotify’s revenue, the ad-supported segment saw an 18% increase year-over-year. Some brands like Rockstar Energy Drink and Aperol have already utilized Creative Lab for their marketing campaigns on Spotify. The company is also exploring a generative AI ad tool that will allow brands to generate scripts and voiceovers for their ads. Additionally, Spotify is testing AI technology to translate its original podcasts into other languages while preserving the original speaker’s voice. This new feature is powered by OpenAI’s Whisper technology.
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Source link: https://radioink.com/2024/06/16/spotifys-new-in-house-agency-to-incorporate-generative-ai-tools/
Spotify’s new agency to use AI tools for creativity. #AIinnovation
Preeti
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