ARN’s iHeart and Magellan AI have revealed podcast advertising spend grew by 72% year on year and 29% compared to Q1, 2022.
The new data also revealed the top 15 brands advertising for Q2, 2022 across the podcast landscape nationally.
Using the latest in artificial intelligence technology, the report is based on analysing thousands of episodes from 400+ of Australia’s most popular podcasts for Q2 2022 to determine which brands are advertising in the rapidly growing medium.
Amazon was the top podcast advertiser for Q2, followed by McDonald’s and beauty group, L’Oreal.
In Q1, monday.com came in at the top, yet slid to eighth this quarter.
Advertising spend across the True Crime category grew the most rapidly by 205% from this time last year. Other podcast genres to exponentially grow in investment year on year are Kids & Family (up 190%), Technology (up 189%), and Arts (up 180%).
The Q2 list features brands from a broad range of categories including online retailers, finance and entertainment.
iHeart’s latest Q2 Podsights Benchmark Australian Report revealed the network has more than double the global benchmark for conversion rates in advertising effectiveness.
The report examined data gathered from April 2021 – June 2022 and found the conversion rate, which is the percentage of listeners exposed to an ad who then visit a brand’s website or app, on ARN’s iHeartPodcast Network Australia is 2.40%, compared with the Podsights global average of 1.17%.
It also revealed that iHeartPodcast Network’s advertising conversion rates continue to be higher than social and digital channels, including Google Search, Facebook, Twitter and more
Corey Layton, ARN’s head of digital audio, said: “The latest Podsights Benchmark report again showcases the power of podcasts, with Australians following through on Podcast call to actions twice as much as the rest of the world.
“Our talent’s colloquial delivery of advertiser messaging continues to perform well above other social and digital channels,” he added.