Top 15 Brands Spent $68 Million On Podcast Ads Last Month, Says MediaRadar.
Top 15 marketers in podcasting splurged a total of $68 million in October, according to MediaRadar data published from Veritonic in a study that offers various year-end perspectives on the business of audio. MediaRadar states that the online mental health company BetterHelp was the largest advertiser in October, with around $20.42 million on ads that were played in more than 2600 episodes. SimpliSafe came in a distant second, with $7.44 million, which was then Geico ($7 million), Squarespace ($5.77 million) and ZipRecruiter ($5.66 million).
The reason that millions of dollars are being poured into podcasts, according to Veritonic’s report. Veritonic study lies in the fact that the popularity of this channel is increasing according to Edison Research data showing more than 200 million listeners to podcasts every week. The channel is also becoming more quantifiable, with a growing number of research projects showing that podcast ads are appealing to marketers.
The Dentsu Podcast Attention Study found that audio advertisements are 12% more effective than TV ads when it is a matter of the scores of attention. Additionally, a Spotify study found that audio advertisements are more than two times as likely to increase the purchase intent as well as information intent than display advertisements. “This and more are contributors to the continued growth of digital audio,” the study says.
Veronica adds that podcasts are making connections with listeners. A study iHeartMedia, as well as Publicis Media, released showed that 74 percent of people who listen to a lot of podcasts believe the podcasts “motivate and inspire” them and 79% of them say podcasts teach them.
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