2024 is poised to be the top year for podcast advertising in history, and Magellan AI data shows that July will certainly help that figure.
Magellan AI ranks the top 15 advertisers in the medium, and during the month of July, 12 of the top 15 marketers increased their advertising month-over-month.
BetterHelp topped the charts with over $7.5 million spent during the month. Amazon was second after spending $5.6 million. Third and fourth places were occupied by a pair of brands that saw their spends decline with T-Mobile ($4.95 million) and Toyota ($4.7 million) taking those places.
Shopify rounded out the top five with $3.68 million. The only brand other than T-Mobile and Toyota to shrink its spending during July was Progressive, dropping to $1.9 million.
Wells Fargo was the company that increased its spending the most. In June, it spent $152,000 on podcast ads. That figure jumped to just over $1 million in July, a 579% increase.
Other brands and advertisers with broad jumps included the U.S. Department of Transportation, which upped its budget by 2,831% after spending $677,000, and IKEA, which jumped 1,144% up from $21,500 to $267,500 during the month.
Magellan AI collects its data by analyzing advertising figures from the top 3,000 U.S. podcasts.
