Goldman Sachs is Using Spotify to Recruit Young Potential Employees

As streaming services continue to grow and dominate not only the music industry, but also tktkt companies like investment banking giant Goldman Sachs Group are thinking of new ways to take advantage of such platforms.

According to Bloomberg, Goldman Sachs is now using Spotify to recruit younger potential employees by running audio messages and banner ads on the streaming service. 

"It’s a place where talented people from diverse backgrounds come to make a difference—from building a new app to managing an IPO. We’re people who have studied the humanities, science, math—you name it," the audio ad says. "When you want to make an impact in unexpected ways, think Goldman Sachs."

These ads were placed as a part of Goldman Sachs's new job recruitment strategy. While such companies have oftentimes targeted college students and new graduates, the investment banking company is hoping to "prevent bias" and "attract a more diverse group." Goldman Sachs had also recently used Snapchat for the same reason in the face of competition from Silicon Valley for talented new grads.

"Spotify and Snapchat are unconvential media choices for us," Goldman Sachs global co-head of brand and content strategy Amanda Rubin told Bloomberg. "We're trying to be valuable and help young people understand Goldman."

Last year, Spotify had announced Spotify for Brands's Playlist Targeting, which acts as a form of ad targeting for brands, allowing brands to use listeners' moods to target them with tailored ads. Though this can provide a better experience for users (ads are targeted by one's gender, age, location, etc.), the service also allows brands to find more success in placing such ads.