As it is revealed that ‘wildcard’ Ed Sheeran is the first British artist to be streamed two billion times on Spotify, the streaming service has also announced a 53% rise in ad revenue in the first quarter of 2015.
Spotify also announced a 380% increase in mobile ad revenue compared to the same three months at the beginning of 2014.
Spotify's Chief Revenue Officer Jeff Levick pulled a new tech quote straight off the shelf, saying: “Our new targeting solutions based on rich behavioural insights combined with our global footprint in 58 markets give brands unprecedented ways to reach streaming consumers”.
Chillingly, Spotify are also now saying that brands can now target audience segments based on who they are, what they’re listening to and when and how they’re listening- presumably part of a strategy to push more customers into paying for ad free subscription rather than face the cultural perineum of the ‘space’ between music and brands.
In related news, according to the Wall Street Journal, Spotify is all set to raise $400m during its next round of funding, pushing its valuation to $8.4bn in the process.
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