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Spotify global advertising revenue forecast to reach $2.1bn in 2024 as the platform focuses on winning a share of video ad budgets

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Spotify

Spotify’s global ad revenue will top the $2bn threshold for the first time in 2024, up 13% year-on year, with revenue rising to $2.6bn in 2026
Brands use Spotify to boost reach with Gen Z
Combining video and audio formats boosts advertising sales by 66% and purchase intent by 27%
Spotify has 626 million users globally with growth coming from outside the US and Europe
WARC Media’s Platform Insights: Spotify

18 September 2024 – Spotify, the world’s most popular audio streaming subscription service, is now turning to opportunities in the video advertising space whilst making it easier for brands to run multi-media campaigns on the platform.
 And, while Spotify is by no means a social platform, it is looking to better facilitate community and connection between fans and artists.

Alex Brownsell, Head of Content, WARC Media, and author of the report, says: “Spotify is looking to expand beyond its sonic roots. The platform is eyeing opportunities in the video ad space, especially with video podcast consumption rising.

“Moreover, a splurge by Spotify on original podcast content and monetisation tools has been replaced with a greater focus on ensuring that rising ad revenue leads to greater business profitability.”

Providing evidence-based insights on the challenges and opportunities Spotify has to offer, this latest Platform Insights report from WARC Media offers an overview of the key data points that advertisers need to know about the platform spanning investment, consumption and performance.

Investment: Spotify’s advertising revenue is forecast to reach $2.1bn in 2024, up 13.0% year-on-year, with revenue rising to $2.6bn in 2026
Spotify has consistent advertising revenue growth momentum. The platform has achieved double-digit growth in its advertising business over the last six quarters. WARC Media figures suggest Spotify’s global advertising revenue will surpass $2bn for the first time in 2024, up 13.0% year-on-year with revenue rising to $2.6bn in 2026.

Podcast advertising revenue growth has outpaced increases in Spotify’s music advertising monetisation, driven by a boost in impressions sold in both original and licensed content via Spotify Audience Network. Spotify is also looking to boost advertising revenue through the launch of generative AI tools such as Quick Audio.

Spotify is looking to enhance its social credentials, enabling comments on podcasts and allowing users to share their listening habits with followers.

Brands in categories such as financial services and automotive are using campaigns on Spotify as

a means of building incremental reach with younger buyers. According to analysis by WARC Media, financial services will be the third highest spending category on the platform in 2024, with

investment reaching $339.4m. While 61% of first-time car buyers on Spotify are under the age of 35, according to GWI.

Consumption: Spotify has more than 626 million users globally with Middle East, Africa and Asia leading growth
Spotify is the world’s most popular audio streaming subscription service, with more than 626 million users globally. While growth in North America has plateaued, Spotify has made gains in the rest of the world. The Middle East, Africa and Asia accounted for 205 million users in Q2 2024, up

from 165 million a year ago.

According to Spotify, more than 319 million Gen Z users are “actively engaged” with its “most immersive features” with in app video a key area of focus. The platform claims it has seen an 81% year-on-year increase in video streaming among Gen Z users, they also account for 57% of Spotify’s audiobook listeners, and are more likely than others to use its ‘AI DJ’ product, introduced last year.

Spotify wants to help users to express their fandom by enabling comments on podcasts and making it easier for artists to share content. This, in turn, is making it easier for brands to target communities on the platform.

User engagement varies over the course of the average day. Audio podcast consumption on

Spotify spikes in the morning and music streaming climbs towards lunchtime, whereas video podcast viewing is more likely at night.

In light of YouTube’s growing presence in the podcast space, Spotify is eager to position itself as

more than just an audio platform. Spotify claims to have seen a 44% year-on-year increase in video

streams over the last 18 months, with a growing number of users watching podcast content. Gen Zs are leading this growth, spending 136% more time with video on Spotify year-on-year.

However, video podcast consumption habits appear to differ by market and region. According to a YouGov study, around a quarter of US adults say they prefer to watch video podcasts. This share drops to around one in eight (13%) adults in the UK.

Performance: Combining video and audio advertising formats boosts sales by 66% and purchase intent by 27%
As Spotify looks beyond its roots, the streamer is keen to convey that combining video and audio advertising formats on its platform can enhance campaign effectiveness. Spotify’s own research suggests a 66% boost to incremental sales and 27% higher purchase intent versus audio only campaigns.

Data from Spotify claims it can deliver a 27% higher average incremental unique weekly reach over commercial TV channels, and 22% incremental unique weekly reach on social platforms.

Audio streaming can have a tangible impact on shopping habits. Spotify argues it is uniquely positioned to be able to do so at all stages of the customer journey, given the role of the app throughout daily routines.

The role of attention in audio advertising effectiveness is only beginning to be explored. Spotify video ads averaged around 58% above Adelaide’s attention benchmark for online video, surpassing platforms including TikTok, Instagram and Snapchat.

Platform Insights: Spotify is part of a series of reports exclusive to WARC Media subscribers, which include an overview of platform investments, media consumption and performance insights. This latest report follows Platform Insights: Pinterest, TikTok, YouTube, Instagram and Snapchat.

Energy

High-Level Minister Roundup to Headline African Energy Week 2026

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African Energy Chamber

African Energy Week 2026 will convene ministers from Algeria, Ghana, Senegal, Zambia and Niger to spotlight oil, gas expansion, reforms and investment opportunities continentwide

CAPE TOWN, South Africa, March 13, 2026/APO Group/ –A high-level ministerial roundup will take center stage at this year’s African Energy Week (AEW) 2026 – taking place in Cape Town from 12–16 October –, convening some of the continent’s most influential energy leaders at a defining moment for Africa’s oil, gas and power sectors. As hydrocarbon expansion converges with accelerating energy transition strategies, the gathering is set to spotlight real-time project execution, regulatory reform and cross-border infrastructure that are actively reshaping Africa’s energy future.

 

Confirmed ministers to date include Algeria’s Minister of Energy and Renewable Energies Mourad Adjal, Ghana’s Minister for Energy and Green Transition Dr. John Abdulai Jinapor, Senegal’s Minister of Energy, Petroleum and Mines Birame Soulèye Diop, Zambia’s Minister of Energy Makozo Chikote and Niger’s Minster of Petroleum Hamadou Tinni.

 

Fresh from a March OPEC+ decision to lift output to 977,000 barrels of oil per day (bpd), Algeria enters AEW 2026 amid a $60 billion sector transformation. The country is also advancing a 500-well exploration drive and accelerating its 1.48 GW “Project of the Century” solar rollout. Gas exports to Europe remains central to the country, supported by hydrogen corridor planning and refinery expansion aimed at boosting capacity to 50 million tons by 2029.

 

Following license extension for Jubilee and TEN to 2040 and the late-2025 restart of the Tema Oil Refinery, Ghana is pushing a $3.5 billion upstream reinvestment plan while settling $500 million in gas arrears. A 1,200 MW state thermal plant and expanded gas processing at Atuabo anchor its gas-to-power shift, alongside a renewed upstream push in the Voltaian Basin.

The participation of these distinguished ministers underscores the scale of opportunity unfolding across Africa’s energy landscape and the urgency of aligning policy with capital

 

Senegal’s delegation comes on the back of strong production momentum, with the Sangomar oil field delivering 36.1 million barrels in 2025, outperforming forecasts, while the Greater Tortue Ahmeyim LNG development ramped up to 2.9 million tons per annum following first gas. Dakar is now prioritizing domestic gas through refinery upgrades at the SAR refinery and preparations for Sangomar Phase 2 to push output beyond 100,000 bpd.

 

Zambia is redefining its power mix after drought-induced hydro shortfalls. New solar capacity – including the 200 MW Chisamba expansion and 136 MW Itimpi Phase 2 – is part of a broader 2,500 MW diversification drive. Cabinet has approved major regional fuel pipelines, while the Energy Single Licensing System fast-tracks approvals. Lusaka targets 10 GW generation by 2030, with solar and wind rising to one-third of supply.

Niger’s presence reflects its emergence as a serious oil exporter, with the fully operational 1,950-km Niger-Benin pipeline now moving up to 90,000 bpd to international markets. Alongside uranium expansion and renewed cooperation with Algeria on upstream assets, Niamey is advancing digital oversight reforms and reinforcing energy sovereignty amid evolving geopolitical dynamics.

 

“The participation of these distinguished ministers underscores the scale of opportunity unfolding across Africa’s energy landscape and the urgency of aligning policy with capital,” says NJ Ayuk, Executive Chairman, African Energy Chamber. “Their leadership reflects a continent moving decisively from strategy to execution, creating a platform where investors can engage directly with the policymakers shaping Africa’s next wave of oil, gas and energy growth.”

 

At AEW 2026, this ministerial cohort will be well-positioned to offer investors direct insight into Africa’s most dynamic energy markets – where new barrels, new pipelines and new megawatts are reshaping regional growth trajectories in real time.

Distributed by APO Group on behalf of African Energy Chamber.

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Business

Enlit Africa 2026 Programme: 280+ speakers, African nuclear 2.0, Bruce Whitfield Business Breakfast

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Enlit Africa

The event, taking place 19-21 May 2026 at the Cape Town International Convention Centre, expects 7,200+ attendees and 250+ exhibitors, making it Africa’s largest gathering of energy and water professionals

CAPE TOWN, South Africa, March 12, 2026/APO Group/ –Enlit Africa (https://apo-opa.co/4cEX08g) has released its full 2026 conference programme, featuring 280+ speakers across 8 specialised tracks including a new African Nuclear 2.0 session covering Koeberg’s 20-year life extension and Ghana’s nuclear vendor selection process.

 

The event, taking place 19-21 May 2026 at the Cape Town International Convention Centre, expects 7,200+ attendees and 250+ exhibitors, making it Africa’s largest gathering of energy and water professionals.

Award-winning business journalist and best-selling author Bruce Whitfield will deliver the opening address at the Project & Investment Network Business Breakfast on 19 May, kicking off three days of strategic sessions, deal-making platforms, and technical masterclasses.

New programme content includes:

African Nuclear 2.0 – A dedicated session examining the transition from planning to execution, featuring:

Koeberg Nuclear Power Station’s successful 20-year life extension (Units 1 and 2 now licensed until 2044/2045)

Ghana’s progression to Phase 3 of its nuclear programme, evaluating US, Chinese, and Russian technology bids

West African Power Pool‘s 10 GW regional nuclear capacity target

Small Modular Reactor (SMR) deployment readiness across African grids

Independent Transmission Projects (ITP) – A new session exploring how private investment is unlocking Africa’s transmission bottleneck, featuring global case studies from India’s PowerGrid and lessons for scaling grid capacity across the continent.

Generation Masterclasses – Five interactive roundtables on gas-to-power, nuclear, hydro power, clean coal, and hydrogen.

AI in Africa’s Power Grid – Examining practical deployment realities, real-time analytics, and predictive maintenance applications already in operation across African utilities.

Conference sessions and technical hub sessions on the expo floor are CPD-accredited by the South African Institute of Electrical Engineers (SAIEE) and the South African Institution of Civil Engineering (SAICE).

Co-located platforms:

Water Security Africa features country playbooks from Namibia (55-year potable reuse programme), Uganda (NRW reduction from 42% to 32%), Cape Town (Day Zero recovery strategies), and sector-specific stewardship sessions with Harmony Gold, Heineken, Mediclinic, and Growthpoint Properties.

Project & Investment Network (P&IN), part of the new Level 2 Executive Experience, connects project developers, investors, African utility CEOs, and DFIs through structured matchmaking, ministerial dialogues, and project briefings. Over the past two years, P&IN has facilitated $3 billion in project pitches.

Utility CEO Forum brings together 35+ confirmed utility CEOs under Chatham House Rule for candid, off-the-record strategic discussions on unbundling, prosumer management, and financial sustainability.

Municipal Forum addresses South African municipalities’ distribution, metering, and revenue challenges, including sessions on NRW management, tariff reform, Cost of Supply studies, and electrifying informal settlements.

Technical Hub sessions on the exhibition floor offer free, CPD-accredited training across Power, Renewable Energy & Storage, and Water tracks, with confirmed speakers from Eskom, ENGIE SA, ACTOM, National Transmission Company South Africa (NTCSA), RenEnergy, and Matla Energy.

Site visits on 22 May include Koeberg Nuclear Power Station and the V&A Waterfront desalination plant.

Pass options:
Free expo pass registration: https://apo-opa.co/4bl2bYu

Free expo passes provide access to 250+ exhibitors and CPD-accredited Technical Hub sessions.

Delegate Pass:
Early bird registration closes 3 April 2026. Delegate passes start at R15,100 (Silver), with P&IN Executive passes at R32,000 including access to the Bruce Whitfield breakfast, Level 2 executive lounge, and investor matchmaking.

Download the full programme: https://apo-opa.co/3NwCble

Register: https://apo-opa.co/4cEX08g

Distributed by APO Group on behalf of VUKA Group.

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Business

Binance Secures Second Major Legal Victory in U.S. Court Under Anti-Terrorism Act in Two Weeks

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Binance

US Federal Court in Alabama Dismisses All Claims Against Binance in Latest Lawsuit Victory

JOHANNESBURG, South Africa, March 12, 2026/APO Group/ –Binance (www.Binance.com), the world’s largest cryptocurrency exchange, announced today that a U.S. federal court in Alabama has dismissed all claims against the company in a lawsuit alleging violations of the Anti-Terrorism Act (ATA). This marks Binance’s second major legal victory in an  ATA matter within one week, following their victory in the Southern District of New York.

A Full and Complete Legal Victory

In a detailed 19-page ruling, the Court found the plaintiffs’ complaint to be legally and factually deficient. The court’s decision to dismiss every claim across the board represents a decisive legal victory for Binance.

Sanctions compliance and terrorism financing are serious matters of law – they require evidence, legal rigour, and due process

The judge described the filing as a “shotgun pleading.” The complaint failed to clearly specify the claims and improperly grouped all defendants together without distinguishing individual conduct or liability. The ruling also emphasized that the plaintiffs did not meet the basic pleading standard to provide a “short and plain statement” of their claims.

Following the ruling, the court granted the plaintiffs until April 10, 2026, to file an amended complaint addressing the deficiencies identified. However, the judge warned that failure to adequately address these issues would result in dismissal of the entire case.

Building on Momentum and Upholding Legal Integrity

“This decision reinforces our unwavering commitment to protecting Binance and our community from unsubstantiated and bad-faith lawsuits,” shared Eleanor Hughes, General Counsel at Binance. “Sanctions compliance and terrorism financing are serious matters of law – they require evidence, legal rigour, and due process. Courts have now examined these claims on two separate occasions and found them to be without merit. These outcomes speak for themselves. We will not tolerate attempts to misuse the legal system to target our industry, and we remain as committed as ever to transparency, security, and lawful conduct in everything we do”.

This latest decision follows closely on the heels of Binance’s comprehensive victory in New York (https://apo-opa.co/46Xg0ev), where the Court similarly rejected allegations that the company assisted, participated in, or conspired with terrorists. Together, these rulings reflect Binance’s strong resolve to protect its platform and community.

Binance has consistently invested in industry-leading compliance infrastructure, regulatory engagement, and legal governance. The company will continue to vigorously defend itself against any attempts to bring unfounded claims or misrepresent its operations.

Distributed by APO Group on behalf of Binance.

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