Spotify and global ad agency Omnicom Media Group, announced a deal in which Omnicom will spend $20 million on podcast ads in the second half of 2020.

James Cridland analyses the deal:

$20m sounds like a lot of money for the next six months, but it’s a drop in the ocean when compared to Omnicom’s $35bn annual spend. Indeed, US radio makes around $20bn from advertising every year.