1、All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributePodcast advertising benchmark reportQ4 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:50,000+popular podcasts6 advertising markets:US,CA,AU,UK,DE&IE3 languages:English,Spanish,GermanAll C
3、ontent 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 130,000 episodes of popular podcasts.To account for dynamic insertion,we sampled multiple copi
4、es 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
5、 reported 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
6、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 methodology,please email researchmagellan.ai4All Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute5Podcast ad spending accelerated
7、in Q4,increasing 29%Y/Y7 of the top 10 spenders in Q423 were also on our Q323 top spenders list,with 2 appearing for the first time in Q42,268 new brands advertised on podcasts for the first timeAverage ad load increased from 6.56%in Q323 to 7.66%in Q423Spend in the Gifts industry increased almost 5
8、x Q/Q,with brands like UncommonGoods,Aura Frames,and Zola leading the wayThe share of 30 seconds ad units remained at 40%in Q423,around the same as Q323Key findingsAll Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeGrowth in podcast advertising spend in Q423Benchmarked to average monthl
9、y spend in Q3236100%117%138%119%Q323 Average Monthly SendOctoberNovemberDecemberAll Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeWho are the top spenders?The top 10 advertisers inQ423 spent an estimated$122M,up 19%since last quarter7 out of the top 10 advertisers in Q423 were top spen
10、ders last quarterApple,Shopify,and AT&T are new to the list this quarterRankRankAdvertiserAdvertiserQuarter over quarter Quarter over quarter rank changerank changeQ423 SpendQ423 Spend1BetterHelp-$25,600,000 2Amazon-$23,200,000 3HelloFresh-$13,200,000 4Apple$10,600,000 5VGW$10,600,000 6Shopify$9,100
11、,000 7State Farm$8,400,000 8SimpliSafe$7,700,000 9DraftKings$7,500,000 10AT&T$6,500,000 7All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeWhich industries are growing the most?Fastest-growing industry in Q423:GiftsFast-growing industriesSpend in Q323Spend in Q423%change Q/QGifts$2,200
12、,000$13,300,000+509%Home Decor$3,000,000$7,200,000+140%Shaving$2,500,000$4,600,000+83%Web Hosting$8,500,000$14,400,000+69%Beauty$2,500,000$4,100,000+62%8Brands in these 5 industries increased budgets the most in Q423All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeHow did last quarter
13、s industries fare?Q3s fast-growing industriesSpend in Q223Spend in Q323Spend in Q423%change Q/QFantasy Sports$8,800,000$13,400,000$20,000,000+49%Web Hosting$5,700,000$8,500,000$14,400,000+69%Pharmaceutical$5,800,000$7,200,000$9,200,000+28%Home Services$6,000,000$8,700,000$8,300,000-5%Investing$11,10
14、0,000$13,700,000$11,400,000-17%9Looking back at the 5 industries that increased budgets the most in Q323Which industries are advertising the mostmoston podcasts?798 brands10Business Services Business Services and Softwareand SoftwareFinancial ServicesFinancial Services703 brandsFoodFood683 brandsTV&
15、FilmTV&Film463 brands+132 new brands+87 new brands+145 new brands+142 new brandsBrands reflect individual products advertised in podcasts;for example,brands in Television and Film include individual programs like Alex Rider promoted by existing advertisers like Amazon Prime Video.All Content Copyrig
16、ht Magellan AI CONFIDENTIAL Do Not Distribute11We identified 6 brands with the largest jump in spend year-over-year andbetween Q423 and Q124.Q1 spend from the last two years is displayed SoFiRokuCHOQDaimlerSandy Spring BankQ1 podcast advertising spendQ1 podcast advertising spendQ1 podcast advertisin
17、g spendQ1 podcast advertising spendQ1 podcast advertising spendQ1 podcast advertising spendQ124 watchlistQ124 watchlistMorgan StanleyAdvertisers included spent at least$50k in Q4 23;had more than 500%year-over-year change in spend from Q122 to Q123;and had more than 300%quarter-over-quarter change f
18、rom Q422 to Q123.76K808KQ122Q1235K674KQ122Q12324K634KQ122Q12338K626KQ122Q12350K529KQ122Q12353K411KQ122Q123All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeHow much are How much are advertisers spending on advertisers spending on the most popular shows?the most popular shows?In Q423,ab
19、out$4.30 out of every$10 in podcast ad spend went to the top 500 shows1,around the same as Q323Advertisers spent an average of$270k per month on podcasts ranking in the top 500 in Q423Podcasts ranking 501 3000 generated an average of$35kper month in revenue in Q423121 Top 500 shows includes any podc
20、ast that ranked in the top 500 on average during quarterSpend broken out by rank,benchmarked against Q3 average monthly spend52%61%50%43%38%44%38%31%29%33%30%26%DecemberNovember OctoberQ323AverageMonthlySpend1-+All Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute1300:53Ave
21、rage ad length(mm:ss)$20kAverage spend per new brand 2,268New brands this quarterMid-rollMost frequent ad placement by brands new to podcastingHow did new brands test out the channel in Q423?All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeHow have ad How have ad loads changed in load
22、s changed in 2023?2023?Average ad load across episodes sampled increased to 7.66%in Q423,compared to 6.56%in Q323Average ad load increased Y/Y,from 5.93%in Q42214%of episodes dedicated to ads1 Including ads that promote other podcastsAd time as a percentage of episode over the last 12 months5.93%5.5
23、5%5.97%6.56%7.66%Q4 22Q1 23Q2 23Q3 23Q4 23All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeWhich genres hadWhich genres hadthe highest the highest ad load?ad load?In Q423,all genres highlighted increased average ad loadsTechnology podcast ad loads increased from 5.8%in Q323 to 6.2%in
24、Q423True Crime podcast ad loads increased from 10.7%in Q323 to 13.7%in Q42315Ad time as a percentage of episode content1 Including ads that promote other podcasts5.8%6.0%6.5%6.7%6.4%6.2%6.8%6.9%7.1%7.1%8.9%10.1%13.2%ScienceTV&FilmSportsComedyArtsTechnologyHealth&FitnessNewsBusinessEducationKids&Fami
25、lySociety&CultureTrue CrimeAll Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeHow ad load differs How ad load differs by episode lengthby episode lengthMost common episode length is 30-60 min,making up 39%of the episodes analyzedOn True Crime shows 60m in length,the average ad load was
26、5.9%in Q42316Episode length ranges1 Including ads that promote other podcastsAd time as a percentage of episode content6%9%11%22%60m30-60m15-30m15mAll Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeGrowth in ad spend by campaign approachAverage monthly spend increased 30%Y/Y for brand a
27、wareness and 21%Y/Y for direct response advertisers in Q423In Q423,direct response made up 43%of overall spend in the market,while brand awareness made up 55%117Benchmarked to average monthly spend in Q323Quarter-over-quarter ad spend increase1 Tune-in campaign approach accounts for the remaining di
28、fference 100%100%121%130%Direct ResponseBrand Awareness Q323 Q423All Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute18Podcasts41%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
29、 each grouping2 Renewal rate is the percentage of direct response advertisers that advertised on a podcast for at least 3 monthsSimulcasts54%Podcasts7.1%of airtime dedicated to ads in Q423Simulcasts7.1%Podcasts27%direct response brands in Q4231Simulcasts38%Podcasts34%Simulcasts44%Average renewal rat
30、e amongdirect response brands2All Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeWhich genres had the most new brands?19GenreNew brands appearing on the genre in Q423Sports497News334Comedy268Society&Culture264Arts245Sports continued to be the most popular genre for new brands to run on
31、in Q423Nearly 2 out of every 10 new brands included Sports podcasts in their media planThe number of new brands across all genres decreased Q/QAll Content Copyright Magellan AI CONFIDENTIAL Do Not Distribute20Here were the most common ad lengths and positions in Q423Most common ad lengths and positi
32、onsMost common ad lengths and positions%of ads analyzedAd lengths1Breakout 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 120s10%40%18%6%2%15s30s60s90s120s28%53
33、%18%PreMidPostAll Content Copyright Magellan AI CONFIDENTIAL Do Not DistributeHow many ads ran on episodes with a single advertiser?For 8%of episodes,all spots typically available were filled by one advertiserTop genres for single advertiser episodes include Technology(18%),Education(16%)andBusiness
34、(13%)21(!)Ad counts broken out for episodes,where all spots typically available were filled by one advertiserAd counts for episodes with a single advertiser(1)1 Including ads that promote other podcasts6%24%68%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 6.1%5.2%5.2%6.9%5.8%5.8%7.3%6.3%6.1%8.8%7.1%7.3%Top 500Top 501-3000Top 3000+Q123Q223Q323Q423To learn more about Magellan AI,book a demo at www.magellan.ai
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