🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Spotify to suspend political advertising in 2020

Published 12/27/2019, 02:18 PM
Spotify to suspend political advertising in 2020
GOOGL
-
META
-
TWTR
-
GOOG
-
SPOT
-

By Elizabeth Culliford and Ayanti Bera

(Reuters) - Spotify (NYSE:SPOT) Technology SA said on Friday it would pause selling political advertisements on its music streaming platform in early 2020.

The world's most popular paid music streaming service, with nearly 141 million users tuning into its ad-supported platform in October, said the pause would extend to Spotify original and exclusive podcasts as well.

The move, which was first reported by Ad Age, comes as campaigns for the U.S. presidential election in November 2020 heat up.

Online platforms including Facebook Inc (NASDAQ:FB) and Alphabet (NASDAQ:GOOGL) Inc's Google are under growing pressure to police misinformation on their platforms and stop carrying political ads that contain false or misleading claims. Twitter Inc (NYSE:TWTR) banned political ads in October and, last month, Google said it would stop giving advertisers the ability to target election ads using data such as public voter records and general political affiliations.

"At this point in time, we do not yet have the necessary level of robustness in our processes, systems and tools to responsibly validate and review this content," a Spotify spokeswoman said in a statement to Reuters.

"We will reassess this decision as we continue to evolve our capabilities."

Spotify, which was only accepting political advertising in the United States, did not answer a Reuters question on how much revenue the company generates from political ads.

"Spotify wasn't a widely used online advertising platform for campaigns before," said Eric Wilson, a Republican digital strategist. "But as other online platforms restricted their political ad inventory, advertisers were on the hunt for new options."

The new policy will cover political groups such as candidates for office, elected and appointed officials, political parties, political action committees (PACs) and SuperPACS, as well as content that advocates for or against those entities. Spotify will also not sell ads that advocate for legislative and judicial outcomes.

The move only applies to Spotify’s ad sales, not advertisements embedded in third-party content, though those will still be subject to Spotify’s broader content policies.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.