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1、All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributePodcast advertising benchmark reportQ2 20231All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeMagellan AI is the podcast media planning and measurement platform that enables brands and publishers to scale podcasts and trac
2、k resultsTrack the competitionPodcastad spendBuild media plansAttributionGet intros to podcastsImpression verificationAll Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute3Our data covers:40,000+popular podcasts5 advertising markets:US,CA,AU,UK&DE3 languages:English,Spanish,GermanAll Cont
3、ent Copyright Magellan AI CONFIDENTIAL Do Not DistributeOur methodologyMagellan AI analyzes podcast advertising data from thousands of popular podcasts in the U.S.To prepare this report,we analyzed over 136,500 episodes of popular podcasts.To account for dynamic insertion,we sampled multiple copies
4、of certain episodes.For parts of this analysis,we relied on Magellan AIs proprietary model to estimate advertising spend.Our model incorporates factors including:The number of ads and variation in ad load detected for a given episodeOur estimates for the number of downloads for each episodeCPM as re
5、ported on select media kits and estimated based on popularityThe type of ads analyzed,including whether they are presented by the host or producedCampaign objective is determined to be direct response if the ads for that brand include a unique promo code or vanity URL.Other brands are classified as
6、either brand awareness or tune-in.Podcasts advertising on other podcasts were excluded from our analysis,except where noted.For more information about our methodology,please email researchmagellan.ai4All Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute5Podcast ad spending in the US picke
7、d up in Q2,increasing 24%Q/Q and putting the market on track to grow about 33%in 20237 of the top 10 spenders in Q223 were also on our Q123 top spenders list,with the rest appearing for the first time in Q22,465 new brands advertised on podcasts for the first timeAverage ad load increased from 5.55%
8、in Q123 to 5.97%in Q223Spend in the Gift industry increased over 2x Q/Q,with brands like Etsy,Aura Frames,Storyworth,and Skylight Frames leading the wayThe share of 30 seconds ad units jumped to 41%in Q223,marking the first time this metric has surpassed 40%Key findingsAll Content Copyright Magellan
9、 AI CONFIDENTIAL Do Not DistributeGrowth in podcast advertising spend in Q223Benchmarked to average monthly spend in Q1236100%112%130%131%Q123 Average Monthly SendAprilMayJuneAll Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeWho are the top spenders?The top 10 advertisers in Q223 spent
10、 an estimated$105mm,roughly the same as last quarter7 out of the top 10 advertisers in Q223 were top spenders last quarterGoogle,Apple,and Instacart are all new to the list this quarterRankRankAdvertiserAdvertiserQuarter over quarter Quarter over quarter rank changerank changeQ223 SpendQ223 Spend1Be
11、tterHelp-$29,600,000 2Amazon-$16,900,000 3HelloFresh-$12,700,000 4FanDuel-$7,100,000 5Progressive-$7,100,000 6Athletic Greens-$6,900,000 7Google$6,900,000 8SimpliSafe$6,000,000 9Apple$6,000,000 10Instacart$5,800,000 7All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeWhich industries ar
12、e growing the most?Fastest-growing industry in Q223:GiftsFast-growing industriesSpend in Q123Spend in Q223%change Q/QGifts$3,000,000$6,900,000 133%Consumer Services&Software$30,400,000$50,000,000 65%Education$17,300,000$28,300,000 64%Travel$8,900,000$13,500,000 52%Alcohol$6,500,000$9,600,000 48%8Bra
13、nds in these 5 industries increased budgets the most in Q223All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeHow did last quarters industries fare?Q1s fast-growing industriesSpend in Q422Spend in Q123Spend in Q223%change Q/QHealth Services$20,600,000$23,500,000$28,700,000 22%Fantasy S
14、ports$14,900,000$21,100,000$14,300,000-32%Live Entertainment$18,400,000$19,900,000$22,100,000 11%Fitness$14,500,000$17,500,000$14,800,000-15%Cosmetics$2,300,000$3,100,000$2,600,000-16%9Looking back at the 5 industries that increased budgets the most in Q123Which industries are advertising the mostmo
15、st on podcasts?831 brands10Business Services Business Services and Softwareand SoftwareFinancial ServicesFinancial Services650 brandsFoodFood645 brandsTV&FilmTV&Film534 brands+124 new brands+85 new brands+173 new brands+175 new brandsBrands reflect individual products advertised in podcasts;for exam
16、ple,brands in Television and Film include individual programs like Alex Rider promoted by existing advertisers like Amazon Prime Video.All Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute11We identified 6 brands with the largest jump in spend year-over-year and between Q222 and Q322.Q3 s
17、pend from the last two years is displayed MasterCardGNCCitiBumbleKelloggsQ3 podcast advertising spendQ3 podcast advertising spendQ3 podcast advertising spendQ3 podcast advertising spendQ3 podcast advertising spendQ3 podcast advertising spendQ323 watchlistQ323 watchlistHiltonAdvertisers included spen
18、t at least$50k in Q2 23;had more than 500%year-over-year change in spend from Q321 to Q322;and had more than 300%quarter-over-quarter change from Q222 to Q322.170K1.5MQ321Q3222K874KQ321Q3224K275KQ321Q32226K178KQ321Q3222K132KQ321Q3224K101KQ321Q322All Content Copyright Magellan AI CONFIDENTIAL Do Not
19、DistributeHow much are How much are advertisers spending on advertisers spending on the most popular shows?the most popular shows?In Q223,about$4 out of every$10 in podcast ad spend went to the top 500 shows1,around the same as Q123Advertisers spent an average of$200k per month on podcasts ranking i
20、n the top 500 in Q223Podcasts ranking 501 3000 generated an average of$29k per month in revenue in Q223121 Top 500 shows includes any podcast that ranked in the top 500 on average during quarterSpend broken out by rank,benchmarked against Q1 average monthly spend49%50%43%37%42%42%35%30%41%39%34%33%J
21、une May AprilQ123 AverageMonthly Spend1-+All Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute1300:54Average ad length(mm:ss)$18kAverage spend per new brand 2,465New brands this quarterMid-rollMost frequent ad placement by brands new to podcastingHow did new brands test out
22、 the channel in Q223?All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeHow have ad How have ad loads changed in loads changed in 2023?2023?Average ad load across episodes sampled increased to 5.97%in Q223,compared to 5.55%in Q123Average ad load is relatively flat Y/Y,from 6%in Q22214%o
23、f episodes dedicated to ads1 Including ads that promote other podcastsAd time as a percentage of episode over the last 12 months6.00%5.79%5.93%5.55%5.97%Q2 22Q3 22Q4 22Q1 23Q2 23All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeWhich genres hadWhich genres hadthe highest the highest ad
24、 load?ad load?In Q223,11 out of the 13 genres highlighted increased average ad loadsSociety&Culture podcast ad loads increased from 6.21%in Q123 to 7.52%in Q223True Crime podcast ad loads decreased from 8.93%in Q123 to 8.38%in Q22315Ad time as a percentage of episode content1 Including ads that prom
25、ote other podcasts4.6%4.9%5.0%5.1%5.1%5.5%5.6%5.7%5.9%5.9%6.4%7.52%8.38%ScienceTV&FilmArtsTechnologySportsComedyBusinessHealth&FitnessNewsEducationKids&FamilySociety&CultureTrue CrimeAll Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeHow ad load differs How ad load differs by episode le
26、ngthby episode lengthMost common episode length is 30-60 min,making up 39%of the episodes analyzedOn Comedy shows 60m in length,the average ad load was 3.6%in Q22316Episode length ranges1 Including ads that promote other podcastsAd time as a percentage of episode content5%7%9%19%60m30-60m15-30m15mAl
27、l Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeGrowth in ad spend by campaign approachAverage monthly spend increased 51%Y/Y for brand awareness and 31%Y/Y for direct response advertisers in Q223In Q223,direct response made up 50%of overall spend in the market,while brand awareness ma
28、de up 47%117Benchmarked to average monthly spend in Q123Quarter-over-quarter ad spend increase100%100%116%133%Direct ResponseBrand Awareness Q123 Q2231 Tune-in campaign approach accounts for the remaining difference All Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute18Podcasts46%of ads
29、that are host-readHow do shows simulcast on YouTube stack up to other podcasts?1%of direct response advertisers is computed by show,and averaged across each grouping2 Renewal rate is the percentage of direct response advertisers that advertised on a podcast for at least 3 monthsSimulcasts58%Podcasts
30、5.7%of airtime dedicated to ads in Q223Simulcasts5.9%Podcasts28%direct response brands in Q2231Simulcasts38%Podcasts34%Simulcasts44%Average renewal rate amongdirect response brands2All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeWhich genres had the most new brands?19GenreNew brands
31、appearing on the genre in Q223Sports662News403Comedy375Society&Culture327Business291Sports continued to be the most popular genre for new brands to run on in Q2231 out of every 10 new brand included News podcasts in their media planThe number of new brands across all genres decreased Q/Q,except for
32、the News genreAll Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute20Here were the most common ad lengths and positions in Q223Most common ad lengths and positionsMost common ad lengths and positions%of ads analyzedAd lengths1Breakout by ad lengths%of ads analyzedBreakout by ad positionAd
33、 positions1 To account for minor variations in ad length,ad lengths are grouped based+/-5s for 15s and 30s,and+/-10s for 60s,90s,and 120s11%41%17%6%2%15s30s60s90s120s29%55%16%PreMidPostAll Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeHow many ads ran on episodes with a single advertis
34、er?For 12%of episodes,all spots typically available were filled by one advertiserTop genres for single advertiser episodes include Technology(21%),Business(17%),and Education(14%)21(!)Ad counts broken out for episodes,where all spots typically available were filled by one advertiser Ad counts for ep
35、isodes with a single advertiser(1)1 Including ads that promote other podcasts7%25%67%Three adsTwo adsOne adAll Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeHow do ad loads differ by show popularity?22Ad time as a percentage of episode content by average show rank 7.2%6.0%5.4%6.9%5.8%5
36、.3%6.7%6.0%5.5%6.6%5.4%5.3%7.5%6.0%5.7%Top 500Top 501-3000Top 3000+Q222Q322Q422Q123Q223All Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute23Appendix AHow were ads programmed?All Content Copyright Magellan AI CONFIIDENTIAL Do Not DistributeHow were ads programmed?Average ad break positio
37、nad break position1 1 for podcasts published daily242 ad breaks3 ad breaks4 ad breaks73%17%52%83%19%92%46%72%10%1 Including ads that promote other podcastsAll Content Copyright Magellan AI CONFIIDENTIAL Do Not DistributeHow were ads programmed?Average ad break positionad break position1 1 for podcas
38、ts published weekly2565%54%82%22%42%68%89%16%2 ad breaks3 ad breaks4 ad breaks30%1 Including ads that promote other podcastsAll Content Copyright Magellan AI CONFIIDENTIAL Do Not DistributeHow were ads programmed?262 ad breaks3 ad breaks4 ad breaks86%29%49%85%12%93%67%40%9%Average ad break positionad break position1 1 for podcasts published seasonally1 Including ads that promote other podcastsTo learn more about Magellan AI,book a demo at www.magellan.ai