Amazon remained the top podcast advertiser in October, a month after it toppled perennial leader BetterHelp in Magellan AI’s monthly ranking for the medium’s biggest spenders. It estimates Amazon further increased its podcast spending, investing $8.1 million in the medium last month, a 14% increase from September. The online mental health provider BetterHelp also increased its budgets, growing its spending 12% month-to-month to $7.9 million last month, according to Magellan estimates.
Third place T-Mobile also spent 6.5% more month-to-month, investing $5.9 million in podcast advertising. MGM Resorts rose to fourth place as it swapped spots with Shopify vs. a month earlier. Magellan says MGM spent $4.6 million on podcast ads, which was 8% less than in September. Shopify spent an estimated $4.4 million, a 13% decline compared to the prior month.
Overall, Magellan says the top 15 advertisers in podcasting spent a combined $54.23 million in October. That was down from $57.72 million spent by the top 15 a month earlier. Magellan says of the top 15, six brands reduced advertising levels month-to-month.
The financial services company led Magellan AI’s list of the top movers and shakers — its monthly ranking of brands that delivered the biggest increases in spending in the medium. Robinhood spent $1.1 million on podcast ads last month vs. less than $100,000 a month earlier.
The holiday season also brought increased spending from brands including Dell, Uncommon Goods, and TJX — the parent of TJ Maxx, Marshalls and Sierra, while Meta used podcast ads to promote its new Instagram Teen Accounts feature.
Overall, Magellan estimates the movers and shakers accounted for $6.97 million in podcast ad spending during October.
Magellan AI analyzes podcast advertising data from the top 3,000 podcasts in the U.S., as ranked by Apple Podcasts. Magellan AI’s proprietary model is used to estimate advertising spend. It includes factors such as the number of ads and variation in ad load detected for a given episode, number of downloads for each episode, and estimated CPMs as reported.
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