Magellan AI has released its second quarter podcast revenue data, showing spending rose by a considerable amount during the three-month sector.
In April, May, and June, podcast advertising grew 22% compared to year-over-year data. The average podcast advertiser saw their spending increase to 7.19% compared to 6.44% in the previous quarter. According to the company, there were 1,516 new brands advertising in podcasts for the first time during the quarter. That represented a 1.9% increase over the first three months of 2024.
The sports and news genres saw the most new brands. 337 new brands advertised in sports shows, while 257 were found in news podcasts.
While overall ad spending in the medium was up, the top 10 advertisers saw a drop of 11% in spending during the second quarter. In total, those 10 advertisers spent $94 million, while seven of them were also top senders in the previous quarter.
BetterHelp was the top podcast advertiser, spending $22.4 million, which dwarfed Amazon ($13.5 million), Shopify ($10.1 million), Mint Mobile ($7.9 million), and MGM Resorts International ($7.8 million) in the top five.
According to Magellan AI, for every $10 spent on podcast advertising during the quarter, $4.70 went to programs in the top 500, which is a drop of 4% compared to the first quarter. Podcasts ranking in the 501-3,000 shows earned an average of $30,000 per month during the quarter.
