Betterhelp was U.S. Podcasting’s January Spending King while CarMax was the Biggest Monthly Ad Spend Mover
- Betterhelp was the highest spending podcast advertiser in January 2021 with a spend estimated at $4.4 Million. See the top 15 spenders and movers at Magellan AI.
- CarMax is the biggest mover, ramping up their podcast investment from $59K to $1.037 Million.
Magellan AI notes that the auto category has been slow to spend on podcasts. At present, the auto category comprises only 2% of podcast spending; in 2019. this amounted to just over $14 mm out of $708 mm in U.S..
The auto industry’s relative slowness in embrace podcasting is rational. Other digital formats can target auto buyers with a granularity derived from Web searches, sites visited, and even gps data that places them at auto dealers. Within audio formats, both digital and terrestrial radio geo-target local markets and cover dealer spend very well — and have established attribution data.
As podcasting ad tech matures, however, the auto category represents a rich opportunity. The category’s overall radio spend was $2.7 B in 2019. With a level targeting and attribution field, the unique benefits of podcast advertising will make it an attractive space for Auto industry spend.
*Ad spend numbers sourced from Zenith Media and the IAB