Podcast ad spending sees September surge
According to Magellan AI, the top-15 brands allocated an estimated $71 million on podcast ads in September, marking a 30% increase from the previous month. The surge also made it one of the strongest months of the year for podcast ad spending, reports Inside Radio.
Magellan, states Inside Radio, also reported “Washable Sofas jumped to first place with an estimated $7.4 million in podcast ad spending last month, a 23% increase month-to-month. That is the first time Washable Sofas was the industry’s top spender.
“The sports betting site FanDuel also jumped back into the top 15 as a combination of the NFL return and baseball playoffs led it to spend an estimated $6.6 million on podcast ads last month. That was not only a big jump from August, but it is also nearly double what FanDuel spent in February during the Super Bowl betting frenzy.
“Rival DraftKings also boosted its spending, with Magellan estimating it put $5.1 million in podcast ads last month. That was more than double the $2.2 million it spent in August.
“Soaring budgets meant that the online mental health brand BetterHelp — which has frequently sat at the top — slid back to third place last month, despite increasing its spending on podcasts ads by 2% compared to August.
“Toyota increased its spending by nearly a third, rising 31% from August to an estimated $5.5 million. And the parking app ParkWhiz made its debut in the ranker with an estimated $5.2 million in ads, to round out the top five.
