The fourth quarter is typically the biggest period for advertising, and podcasters reaped the rewards in November. Magellan AI’s monthly update on the top 15 spenders shows the medium’s largest advertisers spent a combined $62.8 million last month. It was the biggest individual month so far in 2024 for the top spenders as the group’s total spending saw a 16% increase over October’s total.
November saw a return of BetterHelp to the head of the ranker after Amazon overtook the online mental health provider in the two prior months. Magellan AI estimates BetterHelp spent $8.6 million on podcast ads last month, which was a 9% increase from October.
Amazon remained one of the industry’s biggest advertisers even as it slid back to second place with just under $8 million in total podcast ad spending. Magellan says its spending was off by 1% month-to-month.
Year-end promotional offers kept T-Mobile in third place as its spending jumped 9% between October and November, with estimates that it spent a total of $6.5 million on podcast ads last month. Capital One jumped into the ranker in fourth place. Magellan estimates the credit card company spent $4.4 million with podcasters last month.
SimpliSafe rounded out the top five, as its spending soared 75% month-to-month to $4.1 million as it promoted Black Friday deals. It was in tenth place a month earlier.
Magellan AI says of the top 15, there were spending increases from 11 brands month-to-month. The most-used genre across the group was Sports, which was the go-to for all but two marketers. The online fashion retailer Quince was most likely heard in the female-friendly True Crime genre. And the computer antivirus and security software company Norton spent the biggest share of its podcast ad dollars in the News genre.
The holiday season is on full display on Magellan AI’s monthly ranker of the biggest movers and shakers — its ranking of the advertisers that increased their spending the most month-to-month. Bartesian, seller of a craft cocktail maker, ramped up its spending around Black Friday to spend more than $3.3 million targeting gift-givers. That compared to just $16,300 in podcast ad spend a month earlier. Uncommon Goods quadrupled its spending to $1.2 million as it targeted shoppers looking for something a little different. Etsy had a similar message, spending $933,000 on podcast ads last month vs. $44,000 during October.
The movers-and-shakers list also includes some more traditional retail brands. Burlington Stores leaned into podcasting’s geo-targeting capabilities targeting people looking for winter weather gear with ads that mentioned a location’s weather conditions and how close a store was. “Warm up at your nearest Burlington location less than one mile away,” the ads said. Magellan AI says Burlington spent $665,000 on podcast ads last month, vs. a mere $200 during October.
Sterling Jewelers spent $316,000 to promote a new diamond collection “just in time for the holidays” at its Jared Jewelers locations. And Saks Fifth Avenue embraced digital with its podcast ads, promoting a gift guide at its website with an estimated $305,000 worth of podcast ads.
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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