Spotify CEO Daniel El to Tickle the AI Generative ads and Advertisers
Spotify CEO Daniel El to Tickle the AI Generative ads and Advertisers
Share:

New Delhi:- At Spotify's Q2 earnings call this morning, CEO Daniel Ek hinted at a few ways the streaming service might introduce additional AI-powered features. Ek explained how AI can be used to create more personalized experiences, aggregate podcasts, and generate ads.

Earlier this year, the company launched his DJ feature, which delivers hand-picked music along with his AI-powered audio commentary of your favorite songs and artists. Ek said consumers can expect to see similar AI-powered features aimed at contextualizing and personalizing content across streaming services in the future.

"DJ is a phenomenal product," Ek said during the call. “This is probably one of my personal favorites that we have developed over the last few years and we have seen very strong interaction with consumers. It has to do with our ability to contextualize and personalize great content, so we see more and more being able to contextualize and personalize content across platforms to make it more accessible.”

Also Read:- Leading with Impact: The Power of Leadership Quotes

One way Spotify is leveraging generative AI is by using it to summarize the content of podcasts, as jumping on a new podcast can be a bit tricky. Ek said this could make it easier to market new podcasts to consumers, which in turn could lead to better engagement and growth for creators.

Ek says he can also leverage AI through AI-generated audio ads to make Spotify more efficient. “You can see how using generative AI and our tools here can significantly reduce the costs advertisers need to develop new ad formats,” said Ek. “And of course, that means that as an advertiser, instead of just creating one ad, he can imagine creating thousands of them and testing them on the Spotify network. It's easy to do, but you can't do it with video or audio."

Ek's comments come as Spotify is in the process of patenting an AI-powered "text-to-speech" system. The patent was published on July 20 and filed in February. This technology can take text and transform it into human-like speech that incorporates emotion and intent. The system can generate realistic language that can convey emotions such as anger, happiness, and sadness, as well as intentions such as sarcasm. Whispers, shouts and accents are also possible.

Also Read:- Unveiling the Universe's Hidden Matter: The Pursuit of Missing Baryons

The patent indicates that Spotify wants to go beyond a DJ feature that simply says a few AI-assisted phrases between songs. Text-to-speech systems could be used, for example, to narrate audiobooks in a natural-sounding way using AI. It's worth noting that Apple introduced AI-powered audio descriptions to some Apple Books titles earlier this year.

The patent filing and Ek's comments come as Spotify invests in AI voice technology. Last year, the streaming service acquired London-based startup Sonantic, which developed an AI engine that generates realistic human voices from text, for an undisclosed amount. Spotify used the acquisition to boost its AI DJ feature.

According to Spotify's second-quarter results, he now has 220 million people paying for his Spotify subscription worldwide, up 17% year-over-year. Spotify currently has a total of 551 million monthly active users. The company last quarter reported sales of around €3.2 billion ($3.5 billion at current exchange rates). Revenue increased 11% year over year. However, Spotify also reported operating costs of €247 million ($274 million). 

Also Read:- Spotify to raise up with new bestowal value for users

The CEO after increasing the subscription of the Spotify presented the second Quarterly results by just teasing the AI Generative advertisers as they can now play as many ads as they can on Spotify.  

Share:
Join NewsTrack Whatsapp group
Related News