Podcast Ad Spending Cools in February, But Sportsbooks And BMW Show Big Gains

BetterHelp remained podcasting’s biggest advertiser last month, according to Magellan AI, whose monthly report shows February spending was softer than a month earlier. It says the top 15 advertisers on podcasts spent a combined $44.76 million. That was down from the $54.06 million spent in the prior month.

A single advertiser — Amazon — was responsible for a big portion of that decline. The online retailer ended BetterHelp’s three-year run at No. 1 in December and then slid back to second place in January. But with no big retail holidays driving February sales, Amazon pulled back its advertising spending last month. It still invested $2.4 million on podcast ads, but that compared to $6.8 million in spending in January.

The Super Bowl helped drive two sports betting advertisers to the top of Magellan’s monthly ranking. DraftKings spent $4.1 million on podcast ads, up 28% from a month earlier. And FanDuel spent $3.6 million, which gave it a top 15 appearance. Tax season also put Intuit into the ranker as it spent $2.2 million on podcast ads marketing its TurboTax service.

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