Reddit Launches New Keyword Targeting and Product Ad Options
TLDR
- Reddit has announced some new ad options, as it continues to refine its business focus and maximize its revenue potential.
Brief
Reddit’s launching Contextual Keyword Targeting, to help marketers get their ads in front of a broader range of users in the app. So rather than focusing on specific communities, you’ll also now be able to use related keywords in your campaign set-up, which will then see your ads shown to users who engage with those terms and discussions. Reddit’s also launching Product Ads, which will include product descriptions and pricing info, as well as a ‘Shop Now’ CTA to guide purchase activity.
- Read the full article from Social Media Today
Spotify’s Lee Brown talks up the platform’s latest advertiser pitch
TLDR
- Spotify will head to this year’s Cannes Lions Festival with a new product to peddle to advertisers: Spotify Ad Analytics.
Brief
The measurement tool aims to provide advertisers with reporting on how their ads are performing on Spotify as well as the impact they are having on advertisers’ businesses outside the platform through the corresponding introduction of the platform’s own tracking pixel. The new measurement tool is part of Spotify’s plan to get its advertising business to eventually represent 20% of its overall revenue. Growing its advertising business will also be an important component to growing its podcast business, which has seen growth but contributes a smaller percentage of ad revenue compared to ads airing against music content.
- Read the full article from Digiday
MadHive Is Going Shopping For Measurement Tech With $300 Million Investment From Goldman Sachs
TLDR
- MadHive, the CTV ad buying platform, announced a $300 million investment from Goldman Sachs on Tuesday.
Brief
MadHive works primarily with local and national TV advertisers moving budgets into CTV with real-time programmatic bidding. Its platform includes a DSP and a device graph with viewership information such as automatic content recognition from Inscape and geolocation data based on ZIP codes. Advertisers can match their own first-party data with MadHive’s device graph to create and target hyperlocal audiences.
- Read the full article from Ad Exchanger
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