Magellan AI Issues Q4 2023 Podcast Ad Benchmark Report

RADIO ONLINE | Wednesday, January 31, 2024

Magellan AI

Magellan AI has released its fourth quarter 2023 Podcast Advertising Quarterly Benchmark Report. In analyzing over 130,000 podcast episodes, the firm's research team uncovered the behaviors, trends, and insights from Q4. From Q3 to Q4 in 2023, the average ad load on podcasts increased a relative 16.8% reaching a new high of 7.66%.

More key findings

• Podcast ad spending accelerated in Q4, increasing 29% Y/Y

• 7 of the top 10 spenders in Q4'23 were also on our Q3'23 top spenders list, with 2 appearing for the first time in Q4

• 2,268 new brands advertised on podcasts for the first time

• Average ad load increased from 6.56% in Q3'23 to 7.66% in Q4'23

• Spend in the Gifts industry increased almost 5x Q/Q, with brands like UncommonGoods, Aura Frames, and Zola leading the way

• The share of 30 seconds ad units remained at 40% in Q4, around the same as Q3.

The top 10 advertisers in Q4, 2023 spent an estimated $122 million, up 19% since last quarter. 7 out of the top 10 advertisers in Q4 were top spenders last quarter. Apple, Shopify and AT&T are new to the list this quarter.

Business Services and Software are the industries that are advertising the most on podcasts with 798 brands. These are followed by Food (703 brands), Financial Services (683 brands), and TV & film (463 brands).

Advertisers spent an average of $270,000 per month on podcasts ranking in the top 500 in Q4. Podcasts ranking 501-3000 generated an average of $35,000 per month in revenue in Q4.

Download the latest edition of the Podcast Advertising Quarterly Benchmark Report here.