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.