Spotify Announces Launch of Video Ads with Roku; US Streaming Giants Form Lobbying Group 

In today's ExchangeWire news digest: Spotify and Roku announce the launch of integrated video ads; video streaming platforms form a new trade group; and Linda Yaccarino states X will turn a profit in 2024.

Spotify to bring video ads to Roku app

Spotify and Roku have announced the roll-out of video ads to Spotify’s app on Roku. This latest development in the platforms’ partnership will help advertisers reach an “engaged global audience of 500 million+ and increase the impact of their spend”, Spotify said in a press release.

Disney, Netflix establish lobbying group

US streaming giants including Disney, Netflix, and Paramount, have forged a new trade group. The Streaming Innovation Alliance will “advocate for federal and state policies that build on the strong, competitive, and pro-consumer market for streaming video,” according to the group.

X should turn a profit next year, says Yaccarino

Linda Yaccarino has said that X’s operating cash flow is “just about break even”, and that the company should turn a profit in early 2024. The CEO also stated that 15,000 advertisers had returned to the platform, despite Elon Musk sharing that X’s US ad revenue was down 60% earlier in September.

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Fact of the Day

540 million – the size of X’s global user base, according to Linda Yaccarino.

Source: The Wall Street Journal

Last Week's Tech Teasers

Ahead of ATS Singapore, last week’s quiz was all about the nation’s tech landscape. See how well you did below!

  • 10.6% – the forecast growth for Singapore’s ad spend this year 🌱
  • The UK – partnered with Singapore to enhance the use of data and tech 🫱🏽‍🫲🏻
  • ~£329m – the revenue of Singapore’s digital advertising market in 2022 💰 
  • 84.7% –  of Singapore’s population uses social media, as of 2023 📱
  • Xiaxue and Mayiduo – the influencers in Shopee’s 9.9 shopping campaign 🛍️

Challenge yourself on ad tech, martech, media, and commerce, by signing up to The Stack, where we publish a new quiz every Friday.