Podcast Investment Holds Steady Through First Half As Big Spenders Top $360 Million.

Podcast advertising spending remained remarkably consistent in June, with the top 15 advertisers investing a combined $60.3 million, according to Magellan AI estimates. That was down slightly from May’s $61.5 million total, extending a six-month stretch in which top advertiser spending has hovered near the $60 million mark.

Quince once again led all advertisers, spending $6.9 million during the month, followed by Shopify at $6 million and Toyota at $5.7 million. BetterHelp ranked fourth with $5.5 million, while T-Mobile rounded out the top five at $4.1 million.

The June rankings also showed continued strength from pharmaceutical, automotive, and financial marketers. Eli Lilly entered the top 10 for the first time this year with $3.4 million in spending, while Hims & Hers invested $3.4 million as healthcare advertisers continued expanding their presence in podcasting. Progressive, State Farm, and SimpliSafe also remained among the month’s biggest buyers.

Sports remained podcasting’s dominant advertising environment, serving as the primary genre for a majority of the top 15 advertisers. But comedy continued its strong showing, with six marketers making comedy podcasts their top buying category. Amazon also stood apart from most, concentrating its largest investment in Society & Culture podcasts.

The June figures reinforce a trend that has emerged throughout the first half of the year. Based on Magellan AI estimates, the top 15 advertisers spent $59.8 million in January, $61.4 million in February, $58 million in March, $60.7 million in April, $61.5 million in May, and $60.3 million in June. That brings first-half spending among the top 15 advertisers to approximately $361 million.

Even as the composition of the leaderboard continues to evolve, overall spending has remained remarkably stable. Amazon, Shopify, Toyota, Public.com, UnitedHealth Group, Meta, and Lilly have all rotated into or out of the top tier during the year, while Quince and BetterHelp have consistently ranked among podcasting’s biggest advertisers.

Podcast advertising’s pipeline of fast-growing advertisers also remained active in June. Magellan AI’s movers and shakers spent a combined $13.9 million during the month, rebounding from May’s $10.3 million total as a new group of advertisers sharply increased podcast investments.

The U.S. Semiquincentennial Commission led the movers and shakers rankings with $1.9 million in spending, followed closely by Meta at $1.8 million and the American Beverage Association at $1.5 million. Grüns ranked fourth at $1.3 million, while Optum rounded out the top five at $1.2 million.

The first-half data also underscores podcasting’s ability to attract a steady pipeline of new advertisers. Magellan AI’s monthly “movers and shakers” spent a combined $94.4 million during the first six months of 2026. While the monthly totals fluctuated — from a high of $21.7 million in February and March to $10.3 million in May — the figures demonstrate that brands continue to enter podcasting and scale campaigns, helping offset the natural turnover among the medium’s biggest advertisers.

Magellan AI’s rankings are based on advertising activity detected across the top 3,000 podcasts in the U.S. The company uses a proprietary modeling system to estimate advertiser spending, incorporating factors such as ad load, episode downloads, CPM estimates, ad formats, network revenue data, and brand share-of-voice across individual shows. The model is continuously refined as new market data becomes available, providing a snapshot of the advertisers making the largest investments in podcasting each month.