There’s good news for every self-proclaimed ‘alpha male’ that dreams of becoming the next Joe Rogan with an endless broadcast of his own voice, and those other people that actually have something to say, with podcast advertising revenue having a good year.
ARN’s iHeart and Magellan AI have revealed the top fifteen advertisers in podcasting for the second quarter of 2023, with Amazon topping the list, and shown that there’s plenty of money to go around. Total spending in the June quarter grew by 64 percent compared with the same period of 2022, and all genres of podcasting saw increased advertising.
“Podcasts are Australia’s fastest growing mass medium with brands utilising its soaring engagement to connect with audiences in a more intimate and engaging way,” says Corey Layton, ARN’s head of digital audio.
“The surge in Australian podcast advertising spending by 64 percent underscores a compelling shift towards a medium that’s as diverse as it is impactful.”
The top fifteen podcast advertisers in Australia for April to June period are:
- nib Group
- Flight Centre
- Hydro Tasmania
- Flutter Entertainment
- Cashrewards, and
Days of change for media advertising
The rise in advertising revenue for podcasts may suggest that the media industry is in a healthy position, in a harsh global economy other forms are struggling.
This month News Corp announced an enormous decline in global profits, as full year profit fell 75 percent. A total of only US$187 million down from US$760 million in the prior financial year.
According to ThinkTV, the TV advertising market which includes metropolitan and regional free-to-air broadcasts and Broadcaster Video on Demand (BVOD) fell 7.9 percent year on year, recording a combined revenue total of $3.6 billion.
To read about another growing advertising medium, check out OMA’s strong quarter results.