Top podcast advertisers are still spending millions per month as evidenced by new data from Magellan AI that reveals August was another fruitful month for that industry.
During the month, the top 15 advertisers spent $45,572,700 according to data from the company. That was down slightly compared to the $47.8 million from the top 15 spenders in July.
BetterHelp was the top podcast advertiser during the month, despite spending 14% less than it did the previous month. During August, it purchased $6.5 million of podcast commercials, with its top genre being comedy. The company was joined by Toyota (5th), Capital One (9th), and Quince (11th) as the only top 15 marketers reducing their spends during the month.
The top five advertisers during the month after BetterHelp were Amazon (2nd, $5.8 million), T-Mobil (3rd, $5.1 million), Shopify (4th, $4 million), and Toyota ($3.3 million).
Intel saw the largest jump in podcasting advertising, increasing its spending by 5,791%. It spent just over half a million, $512,500, in the sector after spending only $8,700 in July.
Magellan AI analyzes data from the top 3,000 podcasts in the United States according to Apple Podcasts.
