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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.

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Congo Is Turning Reserves into Bankable Projects – and the Investment Window Is Opening

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Etu Energias

Eni-led LNG expansion and ongoing deepwater investment are pushing the Republic of Congo’s energy sector toward more bankable projects ahead of the Congo Energy & Investment Forum 2027

BRAZZAVILLE, Congo (Republic of the), June 23, 2026/APO Group/ –With LNG exports set to triple to 3 mtpa, upstream oil production targeting 500,000 bpd and a renewed push on local content, the Republic of Congo is positioning itself as one of Central Africa’s most investable hydrocarbon markets. Under the leadership of the newly-appointed Minister of Hydrocarbons, Stev Simplice Onanga, the country is prioritizing industry growth by balancing local content with reserve replacement and project advancement.

 

What sets Congo apart is not the scale of its reserves, but the pace at which those reserves are being turned into commercially viable projects. From Eni’s LNG expansion and TotalEnergies’ deepwater developments to brownfield optimization by Trident Energy and output growth at Ammat Global Resources, capital is flowing into projects with clearer monetization pathways and nearer-term returns.

Ahead of the Congo Energy & Investment Forum (CEIF) 2027 – the country’s leading platform for energy investment and partnerships – the story is shifting away from frontier potential toward bankable projects already under development.

Policy Reform Is De-Risking Investment

Congo’s investment case is being reshaped by the alignment of resource base, regulatory reform and project delivery. Established oil production, expanding LNG capacity and fiscal adjustments are gradually reducing above-ground risk.

Recent reforms led by the Ministry of Hydrocarbons and Société Nationale des Pétroles du Congo have added structure to the sector. The Gas Code, introduced in October 2025, formalizes fiscal terms for gas commercialization, while the Gas Master Plan prioritizes flaring reduction and gas-to-power deployment, targeting 1,500 MW by 2030.

A new upstream licensing round is also under consideration, aimed at attracting fresh capital into both mature and frontier acreage. Together, these measures are improving visibility across upstream, midstream and downstream segments, with recent project activity reinforcing the shift.

The Projects Driving the Next Cycle

Deepwater oil remains central to Congo’s production outlook, with operators progressing both new developments and brownfield optimization. TotalEnergies is advancing work at the Moho licence following the April 2026 Moho G discovery, backed by a $500–$600 million infill drilling program targeting about 40,000 bpd in incremental output.

Local independent Ammat Global Resources is targeting 70% production growth from its Loango and Zatchi fields, where reactivated wells and upgraded platforms have already lifted output by 75%. Perenco continues steady gains, adding roughly 6,000 bpd through its 2025–2026 drilling program.

Trident Energy, after acquiring an 85% working interest in the Nkossa and Nsoko II assets in 2025, is focused on extending field life through subsea optimization and redevelopment work.

While oil continues to anchor revenues, gas is rapidly emerging as Congo’s fastest-growing segment. Eni’s Congo LNG project delivered its first cargo from Phase 2 in February 2026, following the startup of the Nguya FLNG unit in December 2025. Together with Tango FLNG, capacity has risen from 0.6 mtpa to 3 mtpa. Trident Energy has also proposed an FLNG project aimed at adding further capacity across the country’s gas market. The project is expected to operate as shared infrastructure, allowing multiple operators to process gas from their respective fields. This creates an outlet for associated gas that might otherwise be stranded, supporting the country’s broader diversification goals.

Local Content Is Reshaping Investment Terms

Beyond upstream policy, Minister Onanga has positioned local content as a central pillar of Congo’s investment framework, and a key determinant of how capital is structured and deployed.

Decrees 2019-342, 343, 344 and 345 set requirements around subcontracting, workforce localization and training commitments, with the effect being a gradual shift in how projects are structured and how partnerships are formed. Operators are increasingly assessed not only on technical delivery but on in-country value creation, including partnerships with local firms and skills development. Logistics, maintenance and other service areas are increasingly channeled through domestic providers.

At CEIF 2027 – taking place June 1–3 in Brazzaville – attention will shift to what is moving forward and to the investors positioned to take part in that pipeline. Congo’s energy sector is no longer defined by potential alone: projects are moving, capital is being committed and policy is starting to catch up with activity on the ground.

As the Republic of Congo moves from reserves to revenue, the signal to investors is clear: this is already unfolding, not a future opportunity.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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Afreximbank secures double honours at the 2026 International Association of Business Communicators (IABC) Gold Quill Awards for excellence in strategic communications

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The Award of Excellence for IATF2025 recognises the successful communications and stakeholder engagement programme delivered around the fourth edition of the Intra-African Trade Fair, Africa’s premier trade and investment event

CAIRO, Egypt, June 23, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has been recognised with two prestigious honours at the 2026 International Association of Business Communicators (IABC) Gold Quill Awards, one of the world’s most prestigious awards programmes for strategic communications.

 

The Bank received an Award of Excellence in Special and Experiential Events category for the Intra-African Trade Fair 2025 (IATF2025) held in Algiers, Algeria and an Award of Merit in the Social Media category for its Afreximbank Social Media Campaigns, reaffirming Afreximbank’s commitment to delivering impactful communications that advance its mandate of promoting trade, investment and industrialisation across Africa and the Caribbean.

We are delighted to receive these two awards, which attest to the expertise, creativity and efficiency of Afreximbank’s communication

The Award of Excellence for IATF2025 recognises the successful communications and stakeholder engagement programme delivered around the fourth edition of the Intra-African Trade Fair, Africa’s premier trade and investment event. IATF2025 brought together governments, businesses, investors, buyers, sellers and entrepreneurs from across Africa and beyond, creating a platform for trade and investment opportunities while advancing the objectives of the African Continental Free Trade Area (AfCFTA). The communications campaign played a pivotal role in driving global awareness, stakeholder participation, media visibility and engagement before, during and after the event, while showcasing the scale, ambition and dynamism of African enterprise and reinforcing a positive narrative about Africa’s capacity to trade, industrialise and compete on the global stage. Over 120,000 delegates attended IATF2025 in person and virtually, with deals worth over US$50 billion recorded.

The Award of Merit for Afreximbank Social Media Campaigns recognises the Bank’s strategic use of digital platforms to engage stakeholders, amplify its developmental impact and elevate conversations around trade, industrialisation, economic integration and investment opportunities across Africa and the Caribbean. Through a combination of compelling storytelling, thought leadership content, executive advocacy, multimedia production and real-time event coverage, Afreximbank’s social media platforms have continued to expand their reach and influence among policymakers, businesses, investors, development partners and the wider public. Among these platforms is the Afreximbank TV, a digital TV channel that is wholly owned and managed by Afreximbank, whose fifth edition was celebrated with dedicated coverage of IATF2025, providing live coverage of the activities to both pan African and global audiences.

Anne Ezeh, Director & Global Head, Communications and Events at Afreximbank commented: “We are delighted to receive these two awards, which attest to the expertise, creativity and efficiency of Afreximbank’s communications. As a pan African multilateral financial institution, we see storytelling as a powerful tool for advancing our mission — ensuring our initiatives, events, programmes and key announcements not only inform, but also inspire confidence, deepen engagement and amplify Africa’s transformation. These awards reinforce our resolve to continue delivering world-class communications that elevate African voices and projects a bold and authoritative narrative of the continent.”

Ms. Ezeh added that through innovative storytelling, digital engagement and integrated campaigns, the Bank will continue to amplify the impact of its programmes and partnerships  to project a more authentic narrative of Africa, one defined by opportunity, innovation, resilience and growing influence in the global economy.

For more than five decades, the IABC Gold Quill Awards have recognised excellence in strategic communications globally, celebrating programmes and campaigns that demonstrate measurable impact, innovation, creativity and outstanding execution. Widely regarded as the pinnacle of achievement in the communications profession, the awards are judged through a rigorous and independent evaluation process conducted by experienced communication leaders from around the world.

Distributed by APO Group on behalf of Afreximbank.

 

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Islamic Development Bank (IsDB) Institute Unveils 2025 Annual Report During Group Annual Meetings in Baku

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IsDBI

In 2025, IsDBI significantly expanded its footprint in Islamic finance transformation, approving 25 new technical assistance projects valued at US$4.14 million and completing 19 projects worth US$3 million

The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) has released its 2025 Annual Report during the 2026 IsDB Group Annual Meetings held in Baku, Azerbaijan, showcasing a year of expanded impact in Islamic finance transformation, innovative solutions, and capacity development.

 

The report highlights how IsDBI strengthened its role as a global knowledge leader by advancing innovative solutions and scaling support to Member Countries through knowledge-based interventions, Islamic finance grants, and strategic partnerships.

In 2025, IsDBI significantly expanded its footprint in Islamic finance transformation, approving 25 new technical assistance projects valued at US$4.14 million and completing 19 projects worth US$3 million, supporting countries in strengthening regulatory frameworks and promoting inclusive financial systems.

Since 2013, the Institute’s interventions in this regard have reached over US$27.57 million across 181 projects benefiting more than 34 countries, underlining its sustained contribution to development outcomes across the Islamic world.

I am pleased to note that the Institute has continued to strengthen its unique role in the global development ecosystem

The Annual Report highlights major progress in IsDBI’s three flagship transformative projects, namely Awqāf Free Zones, Digital Postal Islamic Financial Services, and Smart Countertrade System, which have all advanced to pilot-ready stages. These initiatives aim to address global challenges such as financial inclusion, food and energy security, and trade resilience.

Furthermore, the Institute accelerated its focus on digital innovation in Islamic finance, enhancing its Islamic Finance Artificial Intelligence Assistant (IFAA) and hosting its first AI Hackathon on Islamic Finance, engaging more than 40 teams in developing cutting-edge solutions aligned with industry standards.

Human capital development in Islamic finance also remained a cornerstone of IsDBI’s work in 2025, with the delivery of over 20 training programs reaching around 500 professionals across Member Countries. A key achievement in this area was the Entrepreneurial Mindset Development Program, a flagship initiative equipping emerging leaders from 20 countries with innovation-driven and values-based entrepreneurship skills. The program was designed and implemented in collaboration with Prince Mohammed Bin Salman College of Business and Entrepreneurship, Saudi Arabia.

The Institute also strengthened its thought leadership through flagship publications, global partnerships, and digital engagement, reinforcing its position as a leading voice in Islamic economics and finance.

Commenting on the issuance of the Annual Report, Dr. Sami Al-Suwailem, Acting Director General of IsDBI, said: “I am pleased to note that the Institute has continued to strengthen its unique role in the global development ecosystem by bridging knowledge creation, building human capital, and designing innovative solutions to address economic challenges.”

The 2025 Annual Report is accessible on IsDBI website here (https://isdbinstitute.org/product/isdbi-annual-report-2025/).

Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

 

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