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1、All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributePodcast advertising benchmark reportQ3 20221All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeMagellan AI is the podcast media planning platform used by advertisers spending over$500mm annually,covering 40,000+shows in the
2、 US and internationallyTrack the competitionPodcastad spendBuild media plansAd efficacyPost campaignanalysisGet intros to podcasts2All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeOur methodologyMagellan AI analyzes podcast advertising data from thousands of popular podcasts in the U.
3、S.To prepare this report,we analyzed over 78,000 episodes of popular podcasts.To account for dynamic insertion,we sampled multiple copies of certain episodes.For parts of this analysis,we relied on Magellan AIs proprietary model to estimate advertising spend.Our model incorporates factors including:
4、The number of ads and variation in ad load detected for a given episodeOur estimates for the number of downloads for each episodeCPM as reported on select media kits and estimated based on popularityThe type of ads analyzed,including whether they are presented by the host or producedCampaign objecti
5、ve 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 either brand awareness or tune-in.Podcasts advertising on other podcasts were excluded from our analysis,except where noted.For more information about our methodo
6、logy,please email researchmagellan.ai3All Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute4Podcast ad spending decreased from June to July,but recovered to end slightly up for the quarter,with a 2.6%increase overall Q/Q8 of the top 10 spenders in Q3 were also on our Q2 top spenders list,
7、and all but one(Helix Sleep)made at least one top spenders list in the first half of 20221,878 new brands or products were advertised on podcasts for the first timeAverage ad load ticked down from 5.99%in Q2 to 5.77%in Q3Brands in the Live Entertainment category nearly doubled spend in Q3 again,afte
8、r having doubled Q/Q spend in Q2For the second time,over a third(36%)of the ads we detected were 30 seconds in length,continuing a trend that paralleled with an increase in produced adsKey findingsAll Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeGrowth in podcast advertising spend in
9、Q3 22Benchmarked to average monthly spend in Q2 2250%20%40%60%80%100%120%Q2 2022 Average Monthly SpendJulyAugustSeptemberAll Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeWho are the top spenders?The top 10 advertisers inQ3 22 spent an estimated$75mm,up 6%since last quarter8 out of the
10、 top 10 advertisers in Q3 22 were top spenders last quarterRankRankAdvertiserAdvertiserQuarter over Quarter over quarter rank changequarter rank changeQ3 22 SpendQ3 22 Spend1BetterHelp-$20,900,000 2Amazon-$8,900,000 3HelloFresh$7,600,000 4Athletic Greens$6,100,000 5Shopify$6,000,000 6Progressive$5,8
11、00,000 7ZipRecruiter$5,100,000 8Geico$4,900,000 9SimpliSafe$4,700,000 10Helix Sleep$4,500,000 6All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeWhich industries are growing the most?Fastest-growing industry in Q3 22:Live EntertainmentFast-growing industriesSpend in Q2 22Spend in Q3 22
12、%change Q/QLive Entertainment$4,800,000$8,200,000+72%Fantasy Sports$6,200,000$9,800,000+57%Consumer Electronics$11,800,000$17,400,000+47%Investing$3,500,000$5,000,000+43%Home Improvement$900,000$1,200,000+27%7Brands in these 5 industries increased budgets the most in Q3 22All Content Copyright Magel
13、lan AI CONFIDENTIAL Do Not DistributeHow did last quarters industries fare?Q2s fast-growing industriesSpend in Q1 22Spend in Q2 22Spend in Q3 22%change Q/QLive Entertainment$2,100,000$4,800,000$8,400,000+75%Pharmaceutical$4,200,000$6,400,000$4,800,000(25%)Travel$7,300,000$10,900,000$9,300,000(15%)Al
14、cohol$5,600,000$8,000,000$10,700,000+34%Books$6,800,000$9,100,000$12,000,000+32%8Looking back at the 5 industries that increased budgets the most in Q2 22Which industries are advertising the mostmoston podcasts?653 brands9Business Services Business Services and Softwareand SoftwareFinancial Services
15、Financial Services605 brandsFoodFood481 brandsTelevision&FilmTelevision&Film404 brands+112 new brands+96 new brands+123 new brands+154 new brandsBrands reflect individual products advertised in podcasts;for example,brands in Television and Film include individual programs like Alex Rider promoted by
16、 existing advertisers like Amazon Prime Video.All Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute10We identified 6 brands with the largest jump in spend year-over-year andbetween Q3 21 and Q4 21.Q4 spend from the last two years is displayed AirbnbWixUpsideREICurrentQ4 podcast advertisin
17、g spendQ4 podcast advertising spendQ4 podcast advertising spendQ4 podcast advertising spendQ4 podcast advertising spendQ4 podcast advertising spendQ4 22 watchlistQ4 22 watchlistRocket CompaniesAdvertisers included spent at least$50k in Q3 22;had more than 500%year-over-year change in spend from Q420
18、 to Q421;and had more than 300%quarter-over-quarter change from Q321 to Q421.0K 300K 600KQ4 20Q4 21 0K 150K 300KQ4 20Q4 21 0K 90K 180KQ4 20Q4 21 0K 700K1.4MQ4 20Q4 21 0K 800K1.6MQ4 20Q4 21 0K 300K 600KQ4 20Q4 21All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeHow much are advertisers
19、How much are advertisers spending on the most spending on the most popular shows?popular shows?Top 500 shows1garnered 44%of podcast ad spend in Q3 22,around the same as Q2 22Advertisers spent an average of$190k per month on podcasts ranking in the top 500 in Q3 22Podcasts ranking 501 3000 generated
20、an average of$30kper month in revenue in Q3 2211Note:Spend is benchmarked against Q222 average monthly spend to facilitate comparison.1 Top 500 shows includes any podcast that ranked in the top 500 on average during quarter0%25%50%75%100%125%September August JulyQ2 2022 AverageMonthly Spend1-500500-
21、30003000+All Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute1200:54Average ad length(mm:ss)$18kAverage spend per new brand 1,878New brands this quarterMid-rollMost frequent ad placement by brands new to podcastingHow did new brands test out the channel in Q3 22?All Content Copyright Mag
22、ellan AI CONFIDENTIAL Do Not DistributeWhich genres hadWhich genres hadthe highest the highest ad load?ad load?In Q3 22,5 out of the 19 genres highlighted increased their average ad loadAd load on Leisure podcasts increased 0.19%,while ad load on Fiction podcasts decreased 1.69%13Ad time as a percen
23、tage of episode content1 Including ads that promote other podcasts0%1%2%3%4%5%6%7%8%9%Religion&SpiritualityGovernmentScienceSportsArtsTV&FilmLeisureBusinessMusicHistoryTechnologyComedyNewsFictionHealth&FitnessEducationSociety&CultureKids&FamilyTrue CrimeAll Content Copyright Magellan AI CONFIDENTIAL
24、 Do Not DistributeHow ad load differs by How ad load differs by episode lengthepisode lengthMost common episode length is 30-60 min,making up 40%of the episodes analyzed12%of episodes 60 min in length were on Sportspodcasts14Episode length ranges1 Including ads that promote other podcastsAd time as
25、a percentage of episode content0%4%8%12%16%60m30-60m15-30m15mAll Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeGrowth in ad spend by campaign approachAverage monthly spend increased slightly(+3%Q/Q)for brand awareness,while direct response remained flat Q/QIn Q3 22,direct response made
26、 up 50%1of overall spend in the market,while brand awareness made up 47%115Benchmarked to average monthly spend in Q22290%95%100%105%110%115%120%Direct ResponseBrand Awareness Q2 22 Q3 22+3%Quarter-over-quarter ad spend increase1 These numbers were updated to reflect the mix by spend rather than by
27、advertiser count on Jan 30,2023All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeHow have ad How have ad loads changed so loads changed so far in 2022?far in 2022?Average ad load across episodes sampled decreased to 5.77%in Q3 22,compared to 5.99%in Q2 22Average ad load also decreased
28、Y/Y,from 5.98%in Q3 2116%of episodes dedicated to ads1 Including ads that promote other podcastsAd time as a percentage of episode over the last year5.98%6.24%5.76%5.99%5.77%0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%Q3 21Q4 21Q1 22Q2 22Q3 22All Content Copyright Magellan AI CONFIDENTIAL Do Not Distrib
29、ute17Podcasts49%of ads 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 mont
30、hsSimulcasts61%Podcasts5.7%of airtime dedicated to ads in Q3 22Simulcasts6.1%Podcasts30%direct response brands in Q3 221Simulcasts42%Podcasts36%Simulcasts46%Average renewal rate amongdirect response brands2All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeWhich genres had the most new
31、brands?18GenreNew brands appearing on the genre in Q3 22Sports423News289Comedy263Business257Society&Culture232Sports continued to be the most popular genre for new brands to run on in Q3 22About 10%of brands new to the market included News podcasts in plansThe number of new brands including Society&
32、Culture podcasts in plans dropped from 325 in Q2 22 to 232 in Q3 22All Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute19Here were the most common ad lengths and positions in Q3 22Most common ad lengths and positionsMost common ad lengths and positions%of ads analyzedAd lengths1Breakout
33、by ad lengths%of ads analyzedBreakout by ad positionAd 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 120s0%5%10%15%20%25%30%35%40%15s30s60s90s120s0%10%20%30%40%50%60%PreMidPostAll Content Copyright Magellan AI CONF
34、IDENTIAL Do Not DistributeHow many ads ran on episodes with a single advertiser?For 12%of episodes,all spots typically available were filled by one advertiserTop genres for single advertiser episodes include Football(29%),Business(17%),and Health and Fitness(17%)20(!)Ad counts broken out for episode
35、s,where all spots typically available were filled by one advertiserAd counts for episodes with a single advertiser(1)1 Including ads that promote other podcasts0%10%20%30%40%50%60%70%Three adsTwo adsOne adAll Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute21Appendix AHow were ads progra
36、mmed?All Content Copyright Magellan AI CONFIIDENTIAL Do Not DistributeHow were ads programmed?Average ad break positionad break position1 1for podcasts published daily222 ad breaks3 ad breaks4 ad breaks69%24%57%84%17%93%51%73%14%1 Including ads that promote other podcastsAll Content Copyright Magell
37、an AI CONFIIDENTIAL Do Not DistributeHow were ads programmed?Average ad break positionad break position1 1for podcasts published weekly2362%54%77%20%42%69%88%16%2 ad breaks3 ad breaks4 ad breaks31%1 Including ads that promote other podcastsAll Content Copyright Magellan AI CONFIIDENTIAL Do Not DistributeHow were ads programmed?242 ad breaks3 ad breaks4 ad breaks77%24%54%87%15%87%66%39%12%Average ad break positionad break position1 1for podcasts published seasonally1 Including ads that promote other podcastsTo learn more about Magellan AI,book a demo at www.magellan.ai