Top 10 industries increasing advertising spend on podcasts
Despite initial uncertainty in the industry over coronavirus, some advertisers have chosen this time to increase their podcast spending. Looking for more insights like this? Sign up for a demo.
In our ongoing series of articles, we are looking at how coronavirus is impacting podcast advertising. If you haven’t already, take a look at our first article, where we started our series by analyzing which categories of advertisers were up and which were down during the broadcast week of 3/16. In this piece we look at how the weeks since have shaped up.
Methodology
To establish a baseline, we identified advertisers who were detected on shows that have consistently ranked as a top 3,000 podcast every week since the beginning of January. We calculated the average weekly spend for each advertiser and industry during the months of January and February, and compared that to the average weekly spend during the weeks of 3/23, 3/30 and 4/6.
Which industries are increasing spending?
We detected an increase in spend for a variety of industries. Here are the top ten:
#10 . Sexual wellness (+11%)
Many people are at home with their partners right now and sexual wellness companies like adamandeve.com believe this is the perfect time to spice things up. Not only have they increased their spending on podcasts, they have also centered their messaging around coronavirus.
#9. Business Services and Software (+24%)
Millions of Americans are working from home right now and productivity tools have become a necessity for many businesses. In response, brands like GoToMeeting and Trello have increased their spending on podcasts to reach these companies.
#8 . VPN (+30%)
With people spending more time than ever on their devices, brands like ExpressVPN have been increasing their advertising spend in response.
#7 . Gaming (+31%)
Gaming companies have seized the opportunity to target individuals who are bored and in need of entertainment. Brands like Best Fiends have not only increased their spending, but even tailored their ads to address the dreariness caused by coronavirus.
#6. Mental Health (+39%)
Times are hard for many people right now. Concerns about their job and loved ones are exacerbated by the fact that they can’t leave their home. Mental health companies like Talkspace and Betterhelp have stepped up their messaging to let people know that help is out there.
#5 . Furniture (+50%)
There is something to be said for the benefits of redecorating your home. It’s easy to ignore that tired old couch in the living room til you are forced to look at it all day, so brands like IKEA and Article are capitalizing on the opportunity.
#4 . Online Entertainment (+72%)
Whether your poison is TV, movies, or audiobooks, media consumption is up across the board and content providers have taken notice. Magellan AI detected increases in spending on podcasts for brands like Hulu and Audible.
#3. Hobbies and Lifestyle (+78%)
For many people, staying at home has enabled them to pick up activities and hobbies they may not have had time for before. Hobby companies like KiwiCo, which produces maker crates for kids and adults, have increased their spending on podcasts in response.
#2. Home Goods (+81%)
This includes cleaning products, which have become a necessity for many people since the outbreak of the pandemic. Advertisers like Cleancult and CLR have continued to spend more on podcasts since we first reported on them in our first look.
#1. Alcohol (+85%)
Across the country, alcohol sales are up and alcohol companies have stepped up their messaging in response. Whether it’s beer, spirits, or even wine delivery; we have detected an increase in advertising spending across the board. Brands like Samuel Adams, New Amsterdam and Winc have all stepped up their spending on podcasts.
Magellan AI creates tools that help marketers at brands like SimpliSafe and ThredUP spend intelligently on podcast advertising. Podcast publishers like WNYC and Audioboom use Magellan to track advertisers spending money in the podcast space.
Want to get notified when we publish a new post? Sign up here.
